Westfield Capital Management Co. LP Acquires 27,885 Shares of ITT Inc. (NYSE:ITT)

Westfield Capital Management Co. LP grew its holdings in shares of ITT Inc. (NYSE:ITT) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 669,519 shares of the conglomerate’s stock after buying an additional 27,885 shares during the period. Westfield Capital Management Co. LP owned 0.82% of ITT worth $100,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in ITT in the 3rd quarter worth $26,000. Lynx Investment Advisory purchased a new stake in ITT in the second quarter worth about $27,000. Headlands Technologies LLC bought a new stake in ITT during the 2nd quarter valued at approximately $32,000. UMB Bank n.a. grew its holdings in shares of ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 180 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in shares of ITT in the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird dropped their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. KeyCorp upped their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Stifel Nicolaus increased their price target on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen raised their target price on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $161.88.

ITT Trading Up 1.9 %

Shares of NYSE ITT opened at $158.38 on Friday. The firm’s 50 day moving average price is $148.28 and its 200-day moving average price is $138.71. ITT Inc. has a 52-week low of $107.01 and a 52-week high of $158.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The company has a market cap of $12.91 billion, a PE ratio of 27.03, a P/E/G ratio of 2.02 and a beta of 1.41.

ITT (NYSE:ITT) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same period last year, the business posted $1.37 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that ITT Inc. will post 5.84 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. Shareholders of record on Friday, November 29th will be paid a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s dividend payout ratio is currently 21.84%.

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.