Pacer Advisors Inc. Sells 16,606 Shares of ITT Inc. (NYSE:ITT)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITT. Cetera Investment Advisers raised its stake in ITT by 6.2% during the first quarter. Cetera Investment Advisers now owns 6,652 shares of the conglomerate's stock worth $859,000 after buying an additional 390 shares during the last quarter. Machina Capital S.A.S. acquired a new stake in ITT during the 1st quarter worth about $261,000. Oak Thistle LLC bought a new position in shares of ITT in the 1st quarter worth about $730,000. KLP Kapitalforvaltning AS raised its position in shares of ITT by 2.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 17,100 shares of the conglomerate's stock worth $2,209,000 after acquiring an additional 400 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of ITT in the 1st quarter valued at about $4,036,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ITT. The Goldman Sachs Group lifted their target price on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Citigroup reaffirmed a "buy" rating and set a $186.00 price objective (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. Stifel Nicolaus lifted their price objective on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research note on Friday. KeyCorp boosted their target price on shares of ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Wall Street Zen upgraded shares of 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 nine have given a buy rating to the company's stock. According to data from MarketBeat.com, ITT currently has an average rating of "Moderate Buy" and a consensus price target of $177.88.

ITT Price Performance

Shares of NYSE:ITT opened at $163.96 on Friday. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $170.16. The stock's 50 day moving average is $155.77 and its 200-day moving average is $145.08. The company has a quick ratio of 0.80, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 2.14 and a beta of 1.38.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. 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 business posted $1.49 EPS. ITT's quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be given a $0.351 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a yield of 0.9%. ITT's dividend payout ratio (DPR) is presently 22.26%.

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.

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