Fmr LLC Sells 194,417 Shares of ITT Inc. (NYSE:ITT)

Fmr LLC decreased its holdings in shares of ITT Inc. (NYSE:ITT) by 3.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,189,080 shares of the conglomerate’s stock after selling 194,417 shares during the period. Fmr LLC owned 6.37% of ITT worth $775,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Algert Global LLC purchased a new stake in shares of ITT during the second quarter valued at approximately $1,158,000. Harbor Capital Advisors Inc. grew its holdings in shares of ITT by 242.6% during the second quarter. Harbor Capital Advisors Inc. now owns 22,407 shares of the conglomerate’s stock valued at $2,895,000 after buying an additional 15,866 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of ITT during the third quarter valued at approximately $67,503,000. AQR Capital Management LLC grew its holdings in shares of ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after buying an additional 131,708 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of ITT by 46.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock valued at $14,263,000 after buying an additional 30,320 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ITT shares. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a report on Wednesday. TD Cowen increased their price target on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. 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. Stifel Nicolaus raised their target price on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Robert W. Baird dropped their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.88.

ITT Stock Down 2.0 %

ITT opened at $155.60 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. ITT Inc. has a 1-year low of $107.01 and a 1-year high of $161.13. The company has a market capitalization of $12.68 billion, a PE ratio of 26.55, a PEG ratio of 2.07 and a beta of 1.41. The firm’s 50 day simple moving average is $149.15 and its two-hundred day simple moving average is $139.03.

ITT (NYSE:ITT) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $884.50 million. During the same period last year, the firm earned $1.37 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.82%. ITT’s payout ratio is presently 21.67%.

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.