ITT Inc. (NYSE:ITT) Shares Sold by Dakota Wealth Management

Dakota Wealth Management reduced its stake in ITT Inc. (NYSE:ITT) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,985 shares of the conglomerate’s stock after selling 508 shares during the quarter. Dakota Wealth Management’s holdings in ITT were worth $1,343,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ITT. Lynx Investment Advisory acquired a new stake in shares of ITT during the second quarter worth $27,000. Headlands Technologies LLC purchased a new position in ITT in the 2nd quarter worth $32,000. UMB Bank n.a. lifted its position in ITT by 315.8% during the 3rd 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 period. Brown Brothers Harriman & Co. purchased a new stake in ITT during the 2nd quarter valued at about $36,000. Finally, Quent Capital LLC grew its stake 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. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Performance

ITT opened at $143.78 on Friday. The firm has a fifty day moving average price of $142.17 and a 200 day moving average price of $135.77. ITT Inc. has a 1 year low of $91.94 and a 1 year high of $153.99. The stock has a market cap of $11.75 billion, a P/E ratio of 27.44, a P/E/G ratio of 1.92 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The business had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.89%. The ex-dividend date was Tuesday, September 3rd. ITT’s payout ratio is currently 24.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ITT shares. Stifel Nicolaus lifted their target price on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Cowen lifted their price objective on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. KeyCorp increased 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. Finally, The Goldman Sachs Group boosted their target price on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT currently has a consensus rating of “Buy” and an average price target of $155.25.

ITT 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.