GW&K Investment Management LLC Sells 9,047 Shares of ITT Inc. (NYSE:ITT)

GW&K Investment Management LLC trimmed its position in ITT Inc. (NYSE:ITT - Free Report) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 778,170 shares of the conglomerate's stock after selling 9,047 shares during the quarter. ITT accounts for 0.9% of GW&K Investment Management LLC's holdings, making the stock its 12th biggest holding. GW&K Investment Management LLC owned 0.96% of ITT worth $100,508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after acquiring an additional 125 shares during the period. Kapitalo Investimentos Ltda bought a new position in ITT in the fourth quarter valued at about $59,000. Versant Capital Management Inc raised its position in ITT by 3,513.3% in the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock valued at $70,000 after purchasing an additional 527 shares during the last quarter. Farther Finance Advisors LLC raised its position in ITT by 72.7% in the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock valued at $103,000 after purchasing an additional 331 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in ITT by 13.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock valued at $107,000 after purchasing an additional 87 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on ITT. Stifel Nicolaus increased their target price on ITT from $171.00 to $197.00 and gave the company a "buy" rating in a research report on Monday. Bank of America raised their price objective on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. KeyCorp raised their price objective on ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research 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 report on Monday, May 19th. One 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 an average rating of "Moderate Buy" and a consensus target price of $173.25.

ITT Trading Down 0.1%

Shares of ITT traded down $0.17 during midday trading on Thursday, reaching $159.82. The stock had a trading volume of 150,943 shares, compared to its average volume of 522,962. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.79. The company's 50-day moving average is $153.92 and its 200 day moving average is $143.99. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.00 and a beta of 1.35.

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

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were paid a $0.351 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.40 annualized dividend and a yield of 0.88%. ITT's payout ratio is 22.26%.

About ITT

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.