ITT Inc. (NYSE:ITT) Position Decreased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 15.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 914,568 shares of the conglomerate's stock after selling 163,667 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.13% of ITT worth $118,126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC purchased a new position in ITT during the 1st quarter worth $273,000. Sequoia Financial Advisors LLC boosted its holdings 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 valued at $3,853,000 after acquiring an additional 2,765 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of ITT by 218.0% in the fourth quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock valued at $2,008,000 after acquiring an additional 9,633 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings 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 valued at $2,267,000 after acquiring an additional 2,917 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of ITT by 22.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,049 shares of the conglomerate's stock valued at $1,293,000 after acquiring an additional 1,659 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Price Performance

ITT traded down $0.08 during midday trading on Friday, reaching $159.12. 236,044 shares of the company's stock were exchanged, compared to its average volume of 455,367. The stock has a market capitalization of $12.52 billion, a PE ratio of 25.30, a P/E/G ratio of 2.00 and a beta of 1.35. The business's 50-day moving average price is $153.30 and its 200 day moving average price is $143.66. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $161.79.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.01. ITT had a net margin of 14.19% and a return on equity of 17.75%. The business had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. During the same quarter in the previous year, the business posted $1.42 earnings per share. The company's revenue was up .3% on a year-over-year basis. As a group, analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.351 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.88%. ITT's dividend payout ratio (DPR) is 22.26%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ITT. KeyCorp lifted their target price on shares of ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Bank of America lifted their target price on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Citigroup reissued a "buy" rating and set a $186.00 price objective (up previously from $159.00) on shares of ITT in a report on Monday. Finally, 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 report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $170.00.

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.