Van ECK Associates Corp Cuts Holdings in ITT Inc. (NYSE:ITT)

Van ECK Associates Corp trimmed its holdings in shares of ITT Inc. (NYSE:ITT) by 26.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,490 shares of the conglomerate’s stock after selling 8,231 shares during the quarter. Van ECK Associates Corp’s holdings in ITT were worth $2,684,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. AdvisorNet Financial Inc boosted its stake in ITT by 101.0% in the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after acquiring an additional 204 shares in the last quarter. Clearstead Advisors LLC lifted its stake in shares of ITT by 81.7% during the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock worth $54,000 after buying an additional 250 shares during the period. Bfsg LLC acquired a new stake in shares of ITT during the fourth quarter worth $73,000. GAMMA Investing LLC acquired a new stake in shares of ITT during the fourth quarter worth $94,000. Finally, Fifth Third Bancorp lifted its stake in shares of ITT by 20.1% during the third quarter. Fifth Third Bancorp now owns 1,263 shares of the conglomerate’s stock worth $124,000 after buying an additional 211 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Trading Up 2.4 %

NYSE ITT opened at $134.63 on Wednesday. ITT Inc. has a 1 year low of $75.82 and a 1 year high of $138.29. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The company has a fifty day moving average of $129.75 and a 200 day moving average of $119.36. The company has a market capitalization of $11.08 billion, a PE ratio of 26.40, a P/E/G ratio of 1.76 and a beta of 1.43.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The company had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $883.21 million. During the same quarter in the previous year, the company earned $1.17 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts forecast that ITT Inc. will post 5.8 earnings per share for the current year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.319 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.95%. ITT’s payout ratio is 25.10%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ITT shares. Stifel Nicolaus lifted their price objective on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. KeyCorp lifted their price objective on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Citigroup lifted their price objective on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. Finally, DA Davidson boosted their target price on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $135.57.

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.