UBS Group AG Buys 5,488 Shares of ITT Inc. (NYSE:ITT)

UBS Group AG grew its stake in ITT Inc. (NYSE:ITT – Get Rating) by 20.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,355 shares of the conglomerate’s stock after purchasing an additional 5,488 shares during the quarter. UBS Group AG’s holdings in ITT were worth $2,114,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ronald Blue Trust Inc. bought a new position in shares of ITT in the second quarter valued at approximately $26,000. Lazard Asset Management LLC purchased a new stake in shares of ITT during the second quarter valued at approximately $30,000. Private Trust Co. NA purchased a new stake in shares of ITT during the second quarter valued at approximately $30,000. FNY Investment Advisers LLC purchased a new stake in shares of ITT during the third quarter valued at approximately $32,000. Finally, Bessemer Group Inc. increased its position in shares of ITT by 337.5% during the third quarter. Bessemer Group Inc. now owns 595 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 459 shares during the last quarter. Institutional investors own 90.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ITT shares. StockNews.com raised ITT from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 28th. Citigroup raised their target price on ITT from $94.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, February 13th. Stifel Nicolaus raised their target price on ITT from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, January 20th. DA Davidson raised their target price on ITT from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 13th. Finally, Robert W. Baird raised their target price on ITT from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.30.

ITT Stock Performance

Shares of NYSE ITT opened at $91.86 on Wednesday. The stock has a market cap of $7.60 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.43. ITT Inc. has a fifty-two week low of $63.77 and a fifty-two week high of $95.18. The stock has a fifty day moving average of $88.93 and a 200-day moving average of $80.39.

ITT (NYSE:ITT – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The conglomerate reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. The company had revenue of $774.60 million during the quarter, compared to analysts’ expectations of $766.82 million. ITT had a return on equity of 17.63% and a net margin of 12.28%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 earnings per share. On average, sell-side analysts predict that ITT Inc. will post 4.81 EPS for the current year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Thursday, March 9th will be paid a dividend of $0.29 per share. This is a positive change from ITT’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 8th. This represents a $1.16 annualized dividend and a yield of 1.26%. ITT’s dividend payout ratio (DPR) is currently 24.15%.

About ITT

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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.