ITT Inc. (NYSE:ITT) Shares Sold by Covea Finance

Covea Finance lessened its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 90.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the conglomerate's stock after selling 199,900 shares during the quarter. Covea Finance's holdings in ITT were worth $2,583,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ITT. State of Alaska Department of Revenue lifted its holdings in shares of ITT by 2.6% during the 1st quarter. State of Alaska Department of Revenue now owns 9,536 shares of the conglomerate's stock valued at $1,231,000 after purchasing an additional 240 shares during the last quarter. Ritholtz Wealth Management acquired a new position in ITT during the 1st quarter valued at about $219,000. Wealth Enhancement Advisory Services LLC raised its stake in ITT by 12.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,147 shares of the conglomerate's stock valued at $1,311,000 after buying an additional 1,098 shares during the last quarter. Everhart Financial Group Inc. grew its stake in shares of ITT by 7.2% during the first quarter. Everhart Financial Group Inc. now owns 8,902 shares of the conglomerate's stock worth $1,150,000 after acquiring an additional 600 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of ITT by 6.7% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 145,932 shares of the conglomerate's stock valued at $18,849,000 after acquiring an additional 9,132 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Bank of America lifted their target price on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Citigroup reduced their target price on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus lifted their price target on ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. KeyCorp increased their price objective on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group raised their price objective on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $165.50.

ITT Trading Up 1.2%

ITT stock traded up $1.86 during mid-day trading on Tuesday, hitting $155.21. The company had a trading volume of 424,309 shares, compared to its average volume of 452,910. The company has a market capitalization of $12.22 billion, a price-to-earnings ratio of 24.68, a P/E/G ratio of 1.97 and a beta of 1.35. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The company's fifty day moving average is $145.04 and its 200-day moving average is $142.23.

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, beating the consensus estimate 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 analyst estimates of $901.22 million. During the same quarter last year, the business earned $1.42 earnings per share. The firm's revenue was up .3% on a year-over-year basis. As a group, sell-side analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, June 2nd. ITT's payout ratio is 22.26%.

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.