New York State Teachers Retirement System Sells 7,300 Shares of ITT Inc. (NYSE:ITT)

New York State Teachers Retirement System lowered its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,736 shares of the conglomerate's stock after selling 7,300 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of ITT worth $11,461,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ITT. Sequoia Financial Advisors LLC increased its holdings in shares of 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 buying an additional 2,765 shares in the last quarter. Bessemer Group Inc. grew its position in ITT by 6.2% during the 1st quarter. Bessemer Group Inc. now owns 9,488 shares of the conglomerate's stock worth $1,226,000 after acquiring an additional 551 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in ITT during the 1st quarter valued at $135,000. Oppenheimer & Co. Inc. grew its holdings in ITT by 107.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,794 shares of the conglomerate's stock worth $490,000 after acquiring an additional 1,963 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in ITT by 1.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,609 shares of the conglomerate's stock valued at $1,499,000 after acquiring an additional 123 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Stock Performance

ITT traded up $1.22 during midday trading on Friday, reaching $161.39. 265,401 shares of the company were exchanged, compared to its average volume of 454,043. The stock has a market capitalization of $12.70 billion, a P/E ratio of 25.66, a PEG ratio of 2.09 and a beta of 1.35. ITT Inc. has a one year low of $105.64 and a one year high of $161.53. The stock's 50-day simple moving average is $149.61 and its 200 day simple moving average is $142.67.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $901.22 million. During the same quarter last year, the firm earned $1.42 EPS. ITT's quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Monday, June 2nd. ITT's dividend payout ratio (DPR) is 22.26%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. Stifel Nicolaus lifted their target price on ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Citigroup cut their price target on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Bank of America lifted their price objective on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Wall Street Zen upgraded 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $165.50.

ITT 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.