TimesSquare Capital Management LLC trimmed its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 6.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 186,288 shares of the conglomerate's stock after selling 12,262 shares during the period. TimesSquare Capital Management LLC owned 0.23% of ITT worth $24,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. Merit Financial Group LLC purchased a new stake in shares of ITT in the 1st quarter valued at about $273,000. Intech Investment Management LLC lifted its holdings in shares of ITT by 218.0% in the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock valued at $2,008,000 after purchasing an additional 9,633 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of ITT by 19.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate's stock valued at $2,267,000 after purchasing an additional 2,917 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of ITT by 10.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock valued at $3,853,000 after purchasing an additional 2,765 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of ITT by 22.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,049 shares of the conglomerate's stock valued at $1,293,000 after purchasing an additional 1,659 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.
ITT Trading Down 1.3%
Shares of NYSE:ITT traded down $2.10 during trading on Tuesday, hitting $155.96. 277,136 shares of the stock were exchanged, compared to its average volume of 458,228. The company has a fifty day moving average price of $152.66 and a two-hundred day moving average price of $143.44. The company has a market cap of $12.27 billion, a PE ratio of 24.79, a P/E/G ratio of 2.01 and a beta of 1.35. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.79.
ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping the consensus estimate of $1.44 by $0.01. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. ITT had a return on equity of 17.75% and a net margin of 14.19%. The company's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.42 EPS. Equities research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.
ITT Announces Dividend
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 0.90%. The ex-dividend date of this dividend was Monday, June 2nd. ITT's payout ratio is currently 22.26%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on ITT shares. Stifel Nicolaus boosted their price target on ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research report on Friday, May 16th. KeyCorp boosted their price target on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. The Goldman Sachs Group boosted their price target on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Bank of America boosted their price target on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $170.00.
View Our Latest Stock Report on ITT
ITT Profile
(
Free Report)
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.
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