ITT Inc. (NYSE:ITT) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its holdings in ITT Inc. by 83.6%, selling 16,606 shares, and now owns only 3,262 shares valued at approximately $421,000.
• Multiple large investors, including T. Rowe Price and Select Equity Group, have increased their stakes in ITT during the fourth quarter, indicating strong institutional interest.
• ITT's shares recently fell by 3.5% to $163.96, despite the company posting better-than-expected quarterly earnings and announcing a dividend payout of $0.351 per share.

Pacer Advisors Inc. lowered its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 83.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,262 shares of the conglomerate's stock after selling 16,606 shares during the period. Pacer Advisors Inc.'s holdings in ITT were worth $421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ITT. Merit Financial Group LLC purchased a new stake in shares of ITT in the 1st quarter valued at $273,000. Sequoia Financial Advisors LLC grew its stake in ITT by 10.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock worth $3,853,000 after purchasing an additional 2,765 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of ITT by 19.9% during the 1st 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. Kestra Private Wealth Services LLC acquired a new position in shares of ITT during the 1st quarter worth about $291,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of ITT by 22.4% during the 4th 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. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ITT shares. Citigroup reissued a "buy" rating and issued a $186.00 target price (up from $159.00) on shares of ITT in a research report on Monday, July 14th. 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. The Goldman Sachs Group increased their target price on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. DA Davidson increased their target price on ITT from $170.00 to $190.00 and gave the company a "buy" rating in a report on Monday. Finally, Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $179.22.

ITT Trading Down 0.8%

Shares of ITT stock traded down $1.26 during mid-day trading on Tuesday, hitting $165.68. 139,643 shares of the company's stock were exchanged, compared to its average volume of 520,816. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $170.16. The stock has a 50-day simple moving average of $156.16 and a two-hundred day simple moving average of $145.16. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 2.05 and a beta of 1.38.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, beating the consensus estimate of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%. The company had revenue of $972.40 million for the quarter, compared to analyst estimates of $947.48 million. During the same period last year, the company posted $1.49 earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. Equities analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is 22.01%.

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.