Moran Wealth Management LLC Sells 7,379 Shares of ITT Inc. (NYSE:ITT)

Moran Wealth Management LLC cut its position in ITT Inc. (NYSE:ITT - Free Report) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,504 shares of the conglomerate's stock after selling 7,379 shares during the quarter. Moran Wealth Management LLC owned 0.09% of ITT worth $9,752,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its holdings in ITT by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate's stock valued at $1,641,000 after buying an additional 81 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in ITT by 13.1% in the 4th 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 period. EverSource Wealth Advisors LLC increased its position in ITT by 10.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate's stock valued at $183,000 after acquiring an additional 116 shares during the period. Quarry LP raised its stake in shares of ITT by 101.6% during 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. Finally, GAMMA Investing LLC lifted its holdings in shares of ITT by 8.3% during the first quarter. GAMMA Investing LLC now owns 1,660 shares of the conglomerate's stock worth $214,000 after purchasing an additional 127 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Performance

Shares of NYSE:ITT traded up $3.07 during midday trading on Thursday, reaching $157.85. The company's stock had a trading volume of 356,099 shares, compared to its average volume of 453,729. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13. The firm has a 50 day moving average price of $146.17 and a two-hundred day moving average price of $142.41. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 2.03 and a beta of 1.35.

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, topping analysts' consensus estimates of $1.44 by $0.01. The business had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. ITT had a return on equity of 17.75% and a net margin of 14.19%. The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share. As a group, research analysts anticipate 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 will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, June 2nd. ITT's dividend payout ratio is presently 22.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ITT shares. The Goldman Sachs Group increased their price objective on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. KeyCorp raised their price objective on ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Stifel Nicolaus lifted their price objective on ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, Citigroup reduced their target price on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, ITT has a consensus 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.