Creative Planning Sells 331 Shares of ITT Inc. (NYSE:ITT)

Creative Planning trimmed its holdings in ITT Inc. (NYSE:ITT) by 2.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,698 shares of the conglomerate’s stock after selling 331 shares during the quarter. Creative Planning’s holdings in ITT were worth $2,048,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Lynx Investment Advisory acquired a new stake in ITT in the second quarter worth about $27,000. Headlands Technologies LLC acquired a new position in shares of ITT during the 2nd quarter worth about $32,000. UMB Bank n.a. grew its position in shares of 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 buying an additional 180 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of ITT during the 2nd quarter worth about $36,000. Finally, Quent Capital LLC grew its position in shares of ITT by 53.9% during the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after buying an additional 103 shares during the period. 91.59% of the stock is owned by institutional investors.

ITT Stock Up 0.3 %

ITT stock opened at $143.78 on Monday. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $142.17 and its 200 day simple moving average is $135.81. ITT Inc. has a 1-year low of $91.94 and a 1-year high of $153.99. The firm has a market capitalization of $11.75 billion, a PE ratio of 27.44, a PEG ratio of 1.92 and a beta of 1.40.

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

ITT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is currently 24.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. KeyCorp boosted their target price on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. TD Cowen boosted their target price on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. The Goldman Sachs Group boosted their target price on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Stifel Nicolaus upped their price objective on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock 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.