ITT Inc. (NYSE:ITT) Stock Holdings Lowered by Covea Finance

Covea Finance lowered its stake in ITT Inc. (NYSE:ITT - Free Report) by 90.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 20,000 shares of the conglomerate's stock after selling 199,900 shares during the period. Covea Finance's holdings in ITT were worth $2,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of ITT by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock valued at $73,913,000 after buying an additional 3,424 shares during the period. Merit Financial Group LLC acquired a new position in shares of ITT in the 1st quarter valued at about $273,000. Venturi Wealth Management LLC boosted its holdings in shares of ITT by 880.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock valued at $308,000 after buying an additional 1,936 shares during the period. AlphaQuest LLC boosted its holdings in shares of ITT by 422.7% in the 4th quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock valued at $601,000 after buying an additional 3,403 shares during the period. Finally, ING Groep NV acquired a new position in shares of ITT in the 4th quarter valued at about $1,214,000. Institutional investors own 91.59% of the company's stock.

ITT Trading Up 0.1%

ITT stock traded up $0.17 during midday trading on Friday, reaching $150.83. 1,204,149 shares of the stock traded hands, compared to its average volume of 453,690. The firm has a fifty day moving average price of $144.51 and a two-hundred day moving average price of $142.35. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.97 and a beta of 1.35. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.01. ITT had a net margin of 14.19% and a return on equity of 17.75%. The company had revenue of $913.00 million for the quarter, compared to the consensus estimate of $901.22 million. During the same period in the previous year, the firm earned $1.42 EPS. ITT's revenue was up .3% on a year-over-year basis. Analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a $0.351 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.93%. ITT's payout ratio is currently 22.26%.

Analysts Set New Price Targets

ITT has been the subject of several research reports. KeyCorp lifted their price target on shares of ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Stifel Nicolaus lifted their price target on shares of ITT from $161.00 to $171.00 and gave the company a "buy" rating in a report on Friday, May 16th. Bank of America lifted their price target on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. The Goldman Sachs Group lifted their price target on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.50.

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.