Pacer Advisors Inc. Purchases 2,999 Shares of ITT Inc. (NYSE:ITT)

Pacer Advisors Inc. grew its position in shares of ITT Inc. (NYSE:ITT) by 17.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,868 shares of the conglomerate’s stock after buying an additional 2,999 shares during the quarter. Pacer Advisors Inc.’s holdings in ITT were worth $2,839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITT. Eagle Asset Management Inc. bought a new stake in ITT during the third quarter worth $67,503,000. Erste Asset Management GmbH bought a new stake in shares of ITT during the 3rd quarter worth $7,075,000. Polar Asset Management Partners Inc. boosted its holdings in shares of ITT by 68.9% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate’s stock worth $16,596,000 after buying an additional 45,300 shares during the last quarter. Victory Capital Management Inc. increased its holdings in ITT by 15.4% during the third quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate’s stock worth $45,827,000 after buying an additional 40,860 shares during the last quarter. Finally, Covea Finance raised its position in ITT by 18.7% in the third quarter. Covea Finance now owns 254,800 shares of the conglomerate’s stock worth $38,095,000 after acquiring an additional 40,200 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ITT. Wolfe Research assumed coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating for the company. KeyCorp boosted their target price on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research note on Tuesday. TD Cowen boosted their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ITT currently has a consensus rating of “Moderate Buy” and an average target price of $167.13.

ITT Trading Down 0.6 %

Shares of ITT opened at $150.91 on Friday. ITT Inc. has a twelve month low of $118.58 and a twelve month high of $161.13. The stock has a market cap of $12.30 billion, a PE ratio of 25.75, a P/E/G ratio of 1.77 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $148.78 and its 200-day moving average price is $144.55.

ITT (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. The business had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 EPS. On average, equities analysts forecast that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Company 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.