Victory Capital Management Inc. Sells 58,640 Shares of ITT Inc. (NYSE:ITT)

Victory Capital Management Inc. decreased its stake in shares of ITT Inc. (NYSE:ITT) by 17.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,296 shares of the conglomerate’s stock after selling 58,640 shares during the quarter. Victory Capital Management Inc. owned approximately 0.33% of ITT worth $32,132,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Natixis Advisors L.P. raised its holdings in shares of ITT by 28.7% in the 3rd quarter. Natixis Advisors L.P. now owns 74,409 shares of the conglomerate’s stock valued at $7,286,000 after purchasing an additional 16,614 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of ITT by 198.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 64,364 shares of the conglomerate’s stock valued at $6,302,000 after purchasing an additional 42,767 shares in the last quarter. Raymond James & Associates raised its holdings in shares of ITT by 17.0% in the 4th quarter. Raymond James & Associates now owns 74,618 shares of the conglomerate’s stock valued at $8,903,000 after purchasing an additional 10,853 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of ITT by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate’s stock valued at $169,581,000 after purchasing an additional 5,495 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of ITT by 46.6% in the 3rd quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock valued at $60,130,000 after purchasing an additional 195,111 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ITT. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. KeyCorp boosted 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. Stifel Nicolaus boosted 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. DA Davidson boosted their price objective on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Finally, Citigroup boosted 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $135.57.

ITT Stock Up 2.5 %

NYSE:ITT opened at $131.49 on Tuesday. The company has a market cap of $10.82 billion, a PE ratio of 25.78, a P/E/G ratio of 1.76 and a beta of 1.43. ITT Inc. has a twelve month low of $75.82 and a twelve month high of $138.29. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $129.56 and its two-hundred day moving average is $119.08.

ITT (NYSE:ITT) last released its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $910.60 million for the quarter, compared to the consensus estimate of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. ITT’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 EPS. Analysts anticipate that ITT Inc. will post 5.8 EPS for the current year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.97%. The ex-dividend date is Monday, June 3rd. ITT’s dividend payout ratio is presently 25.10%.

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.