ITT Inc. (NYSE:ITT) Shares Sold by Ethic Inc.

Ethic Inc. lowered its position in shares of ITT Inc. (NYSE:ITT) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,972 shares of the conglomerate’s stock after selling 1,090 shares during the period. Ethic Inc.’s holdings in ITT were worth $996,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its position in ITT by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock valued at $1,641,000 after acquiring an additional 81 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of ITT by 10.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock worth $183,000 after acquiring an additional 116 shares in the last quarter. Tectonic Advisors LLC boosted its stake in shares of ITT by 4.2% during the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock worth $435,000 after acquiring an additional 123 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of ITT by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate’s stock worth $362,000 after purchasing an additional 125 shares during the last quarter. Finally, Quarry LP raised its position in shares of ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Price Performance

ITT opened at $150.98 on Wednesday. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13. The company’s 50-day moving average price is $132.58 and its 200 day moving average price is $142.57. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.01. ITT had a net margin of 14.27% and a return on equity of 18.03%. The firm had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. During the same quarter in the prior year, the business earned $1.42 earnings per share. ITT’s quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a $0.351 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.93%. ITT’s payout ratio is currently 22.26%.

Analysts Set New Price Targets

Several brokerages have weighed in on ITT. Stifel Nicolaus boosted their price target on ITT from $148.00 to $161.00 and gave the company a “buy” rating in a report on Friday, May 2nd. UBS Group upped their price objective on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Citigroup decreased their price target on shares of ITT from $181.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, KeyCorp upped their price objective on shares of ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $161.86.

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.