Harbor Capital Advisors Inc. Has $6.98 Million Holdings in ITT Inc. (NYSE:ITT)

Harbor Capital Advisors Inc. boosted its stake in ITT Inc. (NYSE:ITT) by 108.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,689 shares of the conglomerate’s stock after purchasing an additional 24,282 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.06% of ITT worth $6,980,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lynx Investment Advisory bought a new stake in shares of ITT in the 2nd quarter valued at about $27,000. Headlands Technologies LLC acquired a new position in ITT during the second quarter valued at approximately $32,000. UMB Bank n.a. increased its stake in ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in ITT in the second quarter worth $36,000. Finally, Quent Capital LLC boosted its position in shares of ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Trading Up 0.3 %

NYSE:ITT opened at $140.53 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. ITT Inc. has a twelve month low of $95.53 and a twelve month high of $153.99. The company has a market cap of $11.45 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 1.86 and a beta of 1.41. The business has a 50 day moving average price of $142.94 and a two-hundred day moving average price of $136.20.

ITT (NYSE:ITT) last released its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same quarter last year, the firm earned $1.37 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts expect that ITT Inc. will post 5.82 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, November 29th. ITT’s dividend payout ratio is currently 21.84%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Stifel Nicolaus increased their price target on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird cut their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday. TD Cowen increased their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, KeyCorp raised their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, ITT presently has an average rating of “Buy” and a consensus target price of $157.78.

ITT Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.