Mawer Investment Management Ltd. Decreases Stock Holdings in ITT Inc. (NYSE:ITT)

Key Points

• Mawer Investment Management Ltd. reduced its stake in ITT Inc. by 4.6%, selling 16,807 shares to hold a total of 344,998 shares, valued at approximately $44.56 million.
• Several institutional investors increased their positions in ITT, with Quarry LP raising its holdings by 101.6% and Versant Capital Management increasing theirs by 3,513.3% in the first quarter.
• Analysts maintain a positive outlook on ITT, with a consensus rating of "Moderate Buy" and an average price target of $173.25, following recent upgrades from multiple research firms.

Mawer Investment Management Ltd. decreased its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 344,998 shares of the conglomerate's stock after selling 16,807 shares during the quarter. Mawer Investment Management Ltd. owned 0.43% of ITT worth $44,560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Merit Financial Group LLC acquired a new position in ITT during the first quarter worth about $273,000. Sequoia Financial Advisors LLC raised its stake in ITT by 10.2% during the first quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock worth $3,853,000 after acquiring an additional 2,765 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in ITT by 19.9% during the first quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate's stock worth $2,267,000 after acquiring an additional 2,917 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in ITT by 22.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,049 shares of the conglomerate's stock worth $1,293,000 after acquiring an additional 1,659 shares in the last quarter. Finally, Southeast Asset Advisors LLC raised its stake in ITT by 14.3% during the fourth quarter. Southeast Asset Advisors LLC now owns 32,792 shares of the conglomerate's stock worth $4,685,000 after acquiring an additional 4,097 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

ITT Stock Down 3.2%

Shares of NYSE:ITT traded down $5.50 on Friday, hitting $164.46. 397,682 shares of the company traded hands, compared to its average volume of 520,999. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $170.16. The stock has a 50 day simple moving average of $155.44 and a 200-day simple moving average of $144.94. The company has a market cap of $12.94 billion, a PE ratio of 26.15, a PEG ratio of 2.01 and a beta of 1.35.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. ITT had a return on equity of 17.75% and a net margin of 14.19%. The business had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. During the same quarter in the previous year, the firm earned $1.49 EPS. ITT's revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ITT shares. KeyCorp upped their price objective on ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research note on Friday. Citigroup reiterated a "buy" rating and issued a $186.00 target price (up from $159.00) on shares of ITT in a report on Monday, July 14th. Stifel Nicolaus upped their target price on ITT from $197.00 to $202.00 and gave the company a "buy" rating in a report on Friday. Bank of America upped their target price on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, The Goldman Sachs Group upped their target price on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, ITT presently has an average rating of "Moderate Buy" and an average price target of $177.88.

About ITT

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.