ITT Inc. (NYSE:ITT) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its stake in ITT Inc. (NYSE:ITT) by 80.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,255,653 shares of the conglomerate’s stock after purchasing an additional 1,006,054 shares during the quarter. Alliancebernstein L.P. owned about 2.64% of ITT worth $193,625,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Deutsche Bank AG boosted its holdings in ITT by 410.9% in the second quarter. Deutsche Bank AG now owns 69,406 shares of the conglomerate’s stock valued at $6,357,000 after purchasing an additional 55,822 shares during the period. AlphaCrest Capital Management LLC acquired a new stake in shares of ITT during the second quarter worth about $979,000. Thrivent Financial for Lutherans increased its position in shares of ITT by 140.2% during the second quarter. Thrivent Financial for Lutherans now owns 55,230 shares of the conglomerate’s stock worth $5,059,000 after purchasing an additional 32,234 shares in the last quarter. Ethic Inc. increased its position in shares of ITT by 39.2% during the second quarter. Ethic Inc. now owns 4,953 shares of the conglomerate’s stock worth $454,000 after purchasing an additional 1,395 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of ITT by 3.7% during the second quarter. Parametric Portfolio Associates LLC now owns 230,031 shares of the conglomerate’s stock worth $21,069,000 after purchasing an additional 8,301 shares in the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the company. Bank of America raised ITT from a “neutral” rating to a “buy” rating and raised their price target for the stock from $112.00 to $130.00 in a report on Wednesday, December 8th. Cowen lifted their price objective on ITT from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, December 6th. TheStreet raised ITT from a “c+” rating to a “b” rating in a research note on Thursday, November 4th. Finally, Citigroup boosted their price target on ITT from $111.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, November 5th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, ITT presently has a consensus rating of “Buy” and an average target price of $109.00.

ITT stock opened at $99.55 on Friday. ITT Inc. has a 52 week low of $74.56 and a 52 week high of $105.54. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 43.47, a P/E/G ratio of 1.50 and a beta of 1.58. The company has a 50 day moving average price of $101.07 and a 200 day moving average price of $96.05.

ITT (NYSE:ITT) last released its earnings results on Wednesday, November 3rd. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. ITT had a net margin of 7.14% and a return on equity of 16.29%. The company had revenue of $689.60 million during the quarter, compared to the consensus estimate of $671.80 million. During the same quarter in the prior year, the firm earned $0.82 EPS. Equities analysts expect that ITT Inc. will post 4.05 earnings per share for the current year.

ITT Profile

ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions in the field of energy, transportation, and industrial markets. It operates through the following segments: Motion Technologies, Industrial Process, and Connect and Control Technologies. The Motion Technologies segment manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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