Mawer Investment Management Ltd. Acquires 76,841 Shares of ITT Inc. $ITT

Mawer Investment Management Ltd. raised its stake in ITT Inc. (NYSE:ITT) by 23.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 402,919 shares of the conglomerate’s stock after acquiring an additional 76,841 shares during the quarter. Mawer Investment Management Ltd. owned approximately 0.52% of ITT worth $72,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ITT. Transcend Capital Advisors LLC bought a new position in ITT in the 3rd quarter valued at approximately $219,000. Everhart Financial Group Inc. lifted its stake in shares of ITT by 9.6% in the 3rd quarter. Everhart Financial Group Inc. now owns 8,269 shares of the conglomerate’s stock valued at $1,478,000 after acquiring an additional 726 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of ITT by 708.3% during the 3rd quarter. AlphaQuest LLC now owns 23,448 shares of the conglomerate’s stock valued at $4,192,000 after acquiring an additional 20,547 shares in the last quarter. AE Wealth Management LLC bought a new stake in ITT during the 3rd quarter worth $201,000. Finally, Bank of New York Mellon Corp increased its holdings in ITT by 6.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 744,188 shares of the conglomerate’s stock worth $133,031,000 after purchasing an additional 43,336 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Price Performance

Shares of ITT opened at $182.10 on Monday. The firm has a market cap of $15.67 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 1.64 and a beta of 1.37. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $197.07. The business’s 50 day moving average price is $179.21 and its two-hundred day moving average price is $175.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.52.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of ITT in a report on Thursday, January 22nd. KeyCorp boosted their target price on shares of ITT from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Wall Street Zen downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Stifel Nicolaus cut their price target on shares of ITT from $225.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Finally, Citigroup increased their price objective on ITT from $207.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $206.25.

ITT Company Profile

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.