Harbor Capital Advisors Inc. Sells 2,904 Shares of ITT Inc. (NYSE:ITT)

Harbor Capital Advisors Inc. lessened its holdings in ITT Inc. (NYSE:ITT - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,026 shares of the conglomerate's stock after selling 2,904 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.06% of ITT worth $5,816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in ITT. Rialto Wealth Management LLC acquired a new position in shares of ITT in the fourth quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new position in shares of ITT during the fourth quarter worth $34,000. Quarry LP boosted its position in ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after buying an additional 125 shares during the period. V Square Quantitative Management LLC raised its holdings in ITT by 79.1% in the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock valued at $59,000 after acquiring an additional 182 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in ITT by 291.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock valued at $59,000 after purchasing an additional 309 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Down 0.6%

Shares of NYSE:ITT traded down $0.99 during midday trading on Thursday, hitting $151.37. 44,021 shares of the stock were exchanged, compared to its average volume of 447,825. The company has a market capitalization of $11.91 billion, a PE ratio of 24.03, a P/E/G ratio of 1.89 and a beta of 1.35. The business's fifty day simple moving average is $140.12 and its two-hundred day simple moving average is $142.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $161.13.

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 analysts' consensus estimates of $1.44 by $0.01. ITT had a net margin of 14.27% and a return on equity of 18.03%. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. During the same period last year, the business posted $1.42 EPS. ITT's revenue was up .3% compared to the same quarter last year. As a group, research analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

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

Analysts Set New Price Targets

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