Mutual of America Capital Management LLC Sells 2,965 Shares of ITT Inc. (NYSE:ITT)

Mutual of America Capital Management LLC decreased its holdings in ITT Inc. (NYSE:ITT) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,157 shares of the conglomerate’s stock after selling 2,965 shares during the period. Mutual of America Capital Management LLC owned 0.05% of ITT worth $6,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of ITT by 16.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,380 shares of the conglomerate’s stock worth $1,257,000 after purchasing an additional 1,346 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in ITT by 17.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 2,472 shares of the conglomerate’s stock worth $336,000 after buying an additional 363 shares during the period. CANADA LIFE ASSURANCE Co increased its position in ITT by 1.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 51,684 shares of the conglomerate’s stock valued at $7,028,000 after acquiring an additional 859 shares during the last quarter. Vident Advisory LLC raised its stake in shares of ITT by 603.0% in the first quarter. Vident Advisory LLC now owns 34,072 shares of the conglomerate’s stock valued at $4,635,000 after acquiring an additional 29,225 shares during the period. Finally, CreativeOne Wealth LLC bought a new stake in shares of ITT in the 1st quarter worth about $241,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ITT shares. TD Cowen increased their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Stifel Nicolaus boosted their price objective on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. KeyCorp increased their target price on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Robert W. Baird lowered their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $161.88.

ITT Stock Performance

Shares of ITT stock opened at $152.94 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average price is $146.97 and its 200-day moving average price is $138.28. The firm has a market cap of $12.47 billion, a P/E ratio of 26.10, a P/E/G ratio of 1.98 and a beta of 1.41. ITT Inc. has a 12 month low of $107.01 and a 12 month high of $155.52.

ITT (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same quarter last year, the firm posted $1.37 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts expect that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.319 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.83%. ITT’s dividend payout ratio (DPR) is presently 21.84%.

ITT Company 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.