Point72 Asia Singapore Pte. Ltd. Sells 1,831 Shares of ITT Inc. (NYSE:ITT)

Point72 Asia Singapore Pte. Ltd. decreased its stake in ITT Inc. (NYSE:ITT) by 73.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 662 shares of the conglomerate’s stock after selling 1,831 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in ITT were worth $99,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in ITT in the third quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of ITT in the 2nd quarter valued at approximately $32,000. UMB Bank n.a. grew its stake in shares of ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after buying an additional 180 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in ITT during the second quarter worth $36,000. Finally, Quent Capital LLC raised its position in ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ITT shares. KeyCorp boosted their price objective on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. TD Cowen boosted their price target on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com cut ITT from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. The Goldman Sachs Group boosted their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Robert W. Baird cut their price target on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $161.88.

ITT Stock Down 0.8 %

ITT stock opened at $156.46 on Friday. The business’s fifty day moving average price is $150.48 and its two-hundred day moving average price is $139.78. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 2.02 and a beta of 1.40. ITT Inc. has a fifty-two week low of $110.70 and a fifty-two week high of $161.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09.

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

ITT Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 0.82%. ITT’s dividend payout ratio (DPR) is presently 21.84%.

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.