Great West Life Assurance Co. Can Makes New $4.24 Million Investment in ITT Inc. (NYSE:ITT)

Great West Life Assurance Co. Can purchased a new stake in shares of ITT Inc. (NYSE:ITTGet Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 64,978 shares of the conglomerate’s stock, valued at approximately $4,244,000. Great West Life Assurance Co. Can owned 0.08% of ITT at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC boosted its position in ITT by 36.6% during the second quarter. Millennium Management LLC now owns 794,297 shares of the conglomerate’s stock valued at $53,409,000 after purchasing an additional 212,615 shares in the last quarter. Commerce Bank raised its position in ITT by 69.2% during the second quarter. Commerce Bank now owns 8,842 shares of the conglomerate’s stock valued at $595,000 after acquiring an additional 3,617 shares in the last quarter. Ronald Blue Trust Inc. purchased a new position in ITT during the second quarter valued at approximately $26,000. Farmers & Merchants Investments Inc. increased its position in shares of ITT by 2.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 65,204 shares of the conglomerate’s stock valued at $4,384,000 after buying an additional 1,482 shares in the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of ITT by 50.2% in the second quarter. King Luther Capital Management Corp now owns 52,829 shares of the conglomerate’s stock valued at $3,552,000 after buying an additional 17,664 shares in the last quarter. Hedge funds and other institutional investors own 90.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ITT. Robert W. Baird lowered their price objective on ITT from $88.00 to $83.00 in a research note on Friday, November 4th. KeyCorp upped their price target on ITT from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, January 18th. Citigroup upped their price target on ITT from $82.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, December 9th. StockNews.com started coverage on ITT in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus boosted their price objective on ITT from $92.00 to $100.00 and gave the company a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

ITT Trading Up 3.0 %

Shares of ITT stock opened at $86.09 on Monday. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.44 and a beta of 1.43. The stock has a 50 day simple moving average of $82.75 and a 200-day simple moving average of $76.45. ITT Inc. has a 12-month low of $63.77 and a 12-month high of $96.63.

ITT (NYSE:ITTGet Rating) last issued its earnings results on Thursday, November 3rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. The business had revenue of $753.60 million during the quarter, compared to the consensus estimate of $754.17 million. ITT had a return on equity of 16.95% and a net margin of 12.26%. On average, equities analysts forecast that ITT Inc. will post 4.39 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 1st were paid a $0.264 dividend. This represents a $1.06 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, November 30th. ITT’s payout ratio is currently 25.24%.

ITT Company Profile

(Get Rating)

ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions primarily for the transportation, industrial, and energy markets. It operates through the following segments: Motion Technologies, Industrial Process, Connect and Control Technologies, and Corporate and Other.

See Also

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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