ITT Inc. (NYSE:ITT) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 34.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,049 shares of the conglomerate's stock after selling 118,996 shares during the quarter. Millennium Management LLC owned 0.28% of ITT worth $33,012,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ITT. Rialto Wealth Management LLC purchased a new position in ITT during the fourth quarter worth about $26,000. Whipplewood Advisors LLC purchased a new position in ITT during the fourth quarter worth about $34,000. Quarry LP lifted its position in shares of ITT by 101.6% during the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after purchasing an additional 125 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of ITT by 79.1% during the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock worth $59,000 after purchasing an additional 182 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of ITT by 291.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock worth $59,000 after purchasing an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Stock Down 0.6%

NYSE:ITT traded down $0.83 during mid-day trading on Friday, hitting $147.43. The stock had a trading volume of 380,826 shares, compared to its average volume of 457,560. The stock has a 50-day simple moving average of $135.15 and a two-hundred day simple moving average of $142.92. The company has a market capitalization of $11.60 billion, a PE ratio of 23.40, a PEG ratio of 1.89 and a beta of 1.36. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $161.13. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.01. The firm had revenue of $913.00 million for the quarter, compared to analysts' expectations of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. The firm's revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 earnings per share. On average, equities research analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a $0.351 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.40 annualized dividend and a yield of 0.95%. ITT's dividend payout ratio (DPR) is 22.26%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. KeyCorp increased their price target 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. Bank of America increased their price target on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday. The Goldman Sachs Group increased their price target 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 increased their price target 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. Finally, Wall Street Zen raised shares of 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $165.50.

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.