Principal Financial Group Inc. Sells 6,712 Shares of ITT Inc. (NYSE:ITT)

Principal Financial Group Inc. trimmed its stake in shares of ITT Inc. (NYSE:ITTGet Rating) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,962 shares of the conglomerate’s stock after selling 6,712 shares during the quarter. Principal Financial Group Inc. owned approximately 0.34% of ITT worth $29,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. BNP Paribas Arbitrage SA grew its position in shares of ITT by 96.4% in the 4th quarter. BNP Paribas Arbitrage SA now owns 39,830 shares of the conglomerate’s stock worth $4,070,000 after buying an additional 19,549 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in shares of ITT in the 4th quarter worth approximately $1,044,000. Alps Advisors Inc. grew its position in shares of ITT by 38.1% in the 4th quarter. Alps Advisors Inc. now owns 3,406 shares of the conglomerate’s stock worth $348,000 after buying an additional 940 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of ITT by 5.8% in the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 241,568 shares of the conglomerate’s stock worth $24,685,000 after buying an additional 13,198 shares during the last quarter. Finally, Philadelphia Trust Co. bought a new stake in shares of ITT in the 4th quarter worth approximately $255,000. Hedge funds and other institutional investors own 95.64% of the company’s stock.

ITT has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on ITT from $109.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, April 7th. StockNews.com assumed coverage on ITT in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup lowered their target price on ITT from $124.00 to $112.00 in a research note on Friday, February 11th. Stifel Nicolaus lowered their target price on ITT from $107.00 to $91.00 and set a “buy” rating for the company in a research note on Monday, April 18th. Finally, Robert W. Baird lowered their target price on ITT from $90.00 to $84.00 in a research note on Wednesday, May 4th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $103.17.

In other ITT news, CEO Luca Savi sold 10,290 shares of ITT stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $87.44, for a total transaction of $899,757.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

Shares of NYSE:ITT opened at $72.51 on Friday. The stock has a fifty day simple moving average of $74.65 and a two-hundred day simple moving average of $88.84. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.23 and a beta of 1.51. ITT Inc. has a 12-month low of $68.80 and a 12-month high of $105.54.

ITT (NYSE:ITTGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The conglomerate reported $0.97 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $726.20 million during the quarter, compared to analysts’ expectations of $695.93 million. ITT had a return on equity of 15.90% and a net margin of 10.92%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 earnings per share. Sell-side analysts predict that ITT Inc. will post 4.42 EPS for the current fiscal year.

ITT Company Profile (Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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