Gateway Investment Advisers LLC Sells 6,454 Shares of ITT Inc. (NYSE:ITT)

Gateway Investment Advisers LLC lowered its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 53.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,601 shares of the conglomerate's stock after selling 6,454 shares during the quarter. Gateway Investment Advisers LLC's holdings in ITT were worth $723,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ITT. Bleakley Financial Group LLC lifted its stake in shares of ITT by 21.2% in the 4th quarter. Bleakley Financial Group LLC now owns 3,498 shares of the conglomerate's stock worth $500,000 after purchasing an additional 611 shares during the period. Savant Capital LLC lifted its stake in shares of ITT by 3.5% in the 4th quarter. Savant Capital LLC now owns 4,081 shares of the conglomerate's stock worth $583,000 after purchasing an additional 137 shares during the period. Regents Gate Capital LLP purchased a new stake in ITT in the 4th quarter worth approximately $4,323,000. Van ECK Associates Corp increased its holdings in ITT by 35.3% in the 4th quarter. Van ECK Associates Corp now owns 70,366 shares of the conglomerate's stock worth $10,054,000 after acquiring an additional 18,370 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in ITT by 79.1% in the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock worth $59,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

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

ITT Price Performance

ITT traded down $1.71 during trading on Friday, reaching $150.44. 492,962 shares of the company traded hands, compared to its average volume of 450,497. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The company has a market cap of $11.84 billion, a P/E ratio of 23.88, a PEG ratio of 1.89 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 firm has a fifty day simple moving average of $141.65 and a 200 day simple moving average of $142.63.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.01. The firm had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. The company's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 EPS. On average, equities analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

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