Raymond James & Associates lowered its position in shares of ITT Inc. (NYSE:ITT – Get Rating) by 5.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,879 shares of the conglomerate’s stock after selling 2,187 shares during the period. Raymond James & Associates’ holdings in ITT were worth $2,540,000 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 company. FORA Capital LLC grew its position in ITT by 2.4% during the 2nd quarter. FORA Capital LLC now owns 5,456 shares of the conglomerate’s stock worth $367,000 after acquiring an additional 129 shares during the last quarter. Dean Investment Associates LLC grew its position in shares of ITT by 0.9% in the 2nd quarter. Dean Investment Associates LLC now owns 18,494 shares of the conglomerate’s stock valued at $1,244,000 after buying an additional 161 shares during the last quarter. Captrust Financial Advisors grew its position in shares of ITT by 5.0% in the 1st quarter. Captrust Financial Advisors now owns 3,927 shares of the conglomerate’s stock valued at $296,000 after buying an additional 188 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of ITT by 41.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 652 shares of the conglomerate’s stock valued at $43,000 after buying an additional 191 shares during the last quarter. Finally, Synovus Financial Corp grew its position in shares of ITT by 1.2% in the 1st quarter. Synovus Financial Corp now owns 17,523 shares of the conglomerate’s stock valued at $1,330,000 after buying an additional 208 shares during the last quarter. Institutional investors own 90.16% of the company’s stock.
Analyst Upgrades and Downgrades
ITT has been the topic of a number of analyst reports. Citigroup upped their price target on ITT from $82.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, December 9th. Robert W. Baird dropped their price objective on ITT from $88.00 to $83.00 in a research note on Friday, November 4th. StockNews.com assumed coverage on ITT in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. KeyCorp boosted their price objective on ITT from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Stifel Nicolaus boosted their price objective on ITT from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, ITT currently has a consensus rating of “Moderate Buy” and an average target price of $92.00.
ITT Stock Performance
ITT stock opened at $86.09 on Friday. The stock’s 50 day simple moving average is $82.75 and its 200 day simple moving average is $76.38. ITT Inc. has a fifty-two week low of $63.77 and a fifty-two week high of $96.63. The company has a market cap of $7.12 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.43.
ITT (NYSE:ITT – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. The business had revenue of $753.60 million for the quarter, compared to the consensus estimate of $754.17 million. ITT had a return on equity of 16.95% and a net margin of 12.26%. Equities analysts predict that ITT Inc. will post 4.39 earnings per share for the current year.
ITT Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 1st were paid a $0.264 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, November 30th. ITT’s dividend payout ratio (DPR) is presently 25.24%.
ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions primarily for the transportation, industrial, and energy markets. It operates through the following segments: Motion Technologies, Industrial Process, Connect and Control Technologies, and Corporate and Other.
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