Natixis Advisors LLC Sells 24,812 Shares of ITT Inc. (NYSE:ITT)

Key Points

• Natixis Advisors LLC reduced its stake in ITT Inc. by 34.7% during the first quarter, now holding approximately 46,676 shares worth $6.03 million.
• Several institutional investors have increased their positions in ITT, with Quarry LP raising its stake by over 101% in the last quarter.
• ITT recently reported earnings of $1.64 per share, exceeding analysts' expectations, alongside a revenue increase of 7.3% year-over-year, amounting to $972.4 million.

Natixis Advisors LLC cut its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 34.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,676 shares of the conglomerate's stock after selling 24,812 shares during the period. Natixis Advisors LLC owned about 0.06% of ITT worth $6,029,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Merit Financial Group LLC bought a new stake in shares of ITT in the first quarter worth $273,000. Sequoia Financial Advisors LLC grew its stake in shares of ITT by 10.2% in the first quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock worth $3,853,000 after purchasing an additional 2,765 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of ITT in the first quarter worth $1,214,000. GSA Capital Partners LLP bought a new stake in shares of ITT in the first quarter worth $609,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of ITT by 19.9% in the first quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate's stock worth $2,267,000 after purchasing an additional 2,917 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Performance

Shares of NYSE:ITT traded up $0.75 during mid-day trading on Friday, reaching $165.76. The company had a trading volume of 295,942 shares, compared to its average volume of 397,199. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. The firm has a market cap of $12.93 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 2.03 and a beta of 1.38. The company's 50-day moving average price is $157.31 and its 200-day moving average price is $145.62. ITT Inc. has a one year low of $105.64 and a one year high of $170.16.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. The company had revenue of $972.40 million for the quarter, compared to analysts' expectations of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. ITT's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 EPS. As a group, equities research analysts anticipate 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, September 29th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.351 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. ITT's payout ratio is presently 22.01%.

Analysts Set New Price Targets

A number of brokerages have commented on ITT. Citigroup reaffirmed a "buy" rating and set a $186.00 price target (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. Stifel Nicolaus increased their price objective on shares of ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. DA Davidson lifted their price target on ITT from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group lifted their target price on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and ten have assigned 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 $179.22.

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.