Zacks Investment Management Sells 513 Shares of ITT Inc. (NYSE:ITT)

Zacks Investment Management lowered its holdings in shares of ITT Inc. (NYSE:ITT) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,130 shares of the conglomerate’s stock after selling 513 shares during the period. Zacks Investment Management’s holdings in ITT were worth $3,757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of ITT in the 3rd quarter worth approximately $26,000. 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 worth $35,000 after acquiring an additional 180 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of ITT during the second quarter valued at $32,000. Brown Brothers Harriman & Co. bought a new position in ITT in the 2nd quarter worth about $36,000. Finally, Quent Capital LLC grew its position in ITT by 53.9% during the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Down 0.5 %

Shares of ITT opened at $155.72 on Monday. The stock has a market capitalization of $12.69 billion, a PE ratio of 26.57, a P/E/G ratio of 2.05 and a beta of 1.40. The company’s fifty day moving average is $150.71 and its 200 day moving average is $140.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. ITT Inc. has a fifty-two week low of $110.70 and a fifty-two week high of $161.13.

ITT (NYSE:ITT) last announced its 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. The firm had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 EPS. Sell-side analysts expect that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.319 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.82%. ITT’s dividend payout ratio (DPR) is 21.84%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ITT shares. 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 research note on Wednesday, October 30th. Stifel Nicolaus increased their target price on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. KeyCorp upped their price target on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen lifted their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, StockNews.com downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.88.

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.