Versor Investments LP Cuts Stake in ITT Inc. (NYSE:ITT)

Versor Investments LP lessened its holdings in ITT Inc. (NYSE:ITT) by 52.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,208 shares of the conglomerate’s stock after selling 3,575 shares during the period. Versor Investments LP’s holdings in ITT were worth $480,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Sei Investments Co. boosted its holdings in shares of ITT by 2.0% in the first quarter. Sei Investments Co. now owns 79,286 shares of the conglomerate’s stock valued at $10,785,000 after acquiring an additional 1,589 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in ITT by 19.5% in the 1st quarter. Russell Investments Group Ltd. now owns 54,785 shares of the conglomerate’s stock valued at $7,452,000 after purchasing an additional 8,956 shares in the last quarter. US Bancorp DE increased its position in ITT by 4.9% during the 1st quarter. US Bancorp DE now owns 15,723 shares of the conglomerate’s stock worth $2,139,000 after purchasing an additional 740 shares during the period. Bleakley Financial Group LLC boosted its stake in shares of ITT by 5.3% in the first quarter. Bleakley Financial Group LLC now owns 2,840 shares of the conglomerate’s stock valued at $386,000 after buying an additional 143 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in ITT by 3.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 98,635 shares of the conglomerate’s stock worth $13,417,000 after acquiring an additional 3,095 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Down 1.2 %

ITT stock opened at $151.75 on Friday. ITT Inc. has a one year low of $107.00 and a one year high of $155.52. The stock has a market capitalization of $12.37 billion, a P/E ratio of 25.90, a PEG ratio of 1.99 and a beta of 1.41. The company has a 50 day moving average price of $145.62 and a two-hundred day moving average price of $137.64. 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 (NYSE:ITT) last released its 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 return on equity of 17.98% and a net margin of 13.67%. The firm had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same period in the prior year, the business posted $1.37 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.319 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.84%. ITT’s dividend payout ratio (DPR) is presently 21.67%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ITT. Robert W. Baird decreased their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. KeyCorp upped their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. TD Cowen lifted their price target on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus lifted their price objective on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $157.78.

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.