Fortem Financial Group LLC Sells 3,438 Shares of ITT Inc. (NYSE:ITT)

Fortem Financial Group LLC trimmed its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 32.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,002 shares of the conglomerate's stock after selling 3,438 shares during the quarter. Fortem Financial Group LLC's holdings in ITT were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP raised its stake in shares of ITT by 101.6% in the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after acquiring an additional 125 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of ITT in the fourth quarter valued at approximately $59,000. Versant Capital Management Inc raised its stake in shares of 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 acquiring an additional 527 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of 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 acquiring an additional 87 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of 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 acquiring an additional 331 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Trading Up 0.2%

Shares of ITT stock traded up $0.38 on Friday, hitting $157.94. The stock had a trading volume of 374,809 shares, compared to its average volume of 459,145. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $161.79. The firm has a market cap of $12.43 billion, a P/E ratio of 25.11, a PEG ratio of 2.00 and a beta of 1.35. The company has a fifty day moving average price of $152.08 and a two-hundred day moving average price of $143.26.

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

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, June 2nd. ITT's payout ratio is presently 22.26%.

Analysts Set New Price Targets

Several research firms recently weighed in on ITT. The Goldman Sachs Group boosted their price objective 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. Stifel Nicolaus boosted their price objective 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 upgraded shares of ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. KeyCorp boosted their price objective on shares of ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Bank of America boosted their price objective on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $165.50.

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.