Mutual of America Capital Management LLC Trims Holdings in ITT Inc. (NYSE:ITT)

Mutual of America Capital Management LLC reduced its stake in shares of ITT Inc. (NYSE:ITT) by 3.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,918 shares of the conglomerate’s stock after selling 1,834 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of ITT worth $6,654,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in ITT in the 4th quarter valued at about $102,709,000. BNP Paribas Asset Management Holding S.A. raised its position in ITT by 139.7% during the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 393,168 shares of the conglomerate’s stock valued at $46,912,000 after purchasing an additional 229,109 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in shares of ITT in the 4th quarter worth $9,111,000. Comerica Bank bought a new position in shares of ITT during the 3rd quarter worth $7,359,000. Finally, Vanguard Group Inc. increased its stake in shares of ITT by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after buying an additional 65,173 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ITT. KeyCorp increased their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Stifel Nicolaus boosted their price objective on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. DA Davidson increased their target price on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. UBS Group boosted their price target on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Citigroup upped their price objective on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $138.38.

ITT Stock Performance

Shares of ITT stock traded down $0.09 during midday trading on Monday, hitting $126.85. The company had a trading volume of 232,285 shares, compared to its average volume of 384,978. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.65 and a beta of 1.41. ITT Inc. has a 12-month low of $91.94 and a 12-month high of $140.20. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $131.56 and a 200 day simple moving average of $127.34.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $1.17 earnings per share. As a group, analysts predict that ITT Inc. will post 5.85 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.319 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.28 annualized dividend and a yield of 1.01%. ITT’s payout ratio is presently 25.10%.

About ITT

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.