SeaBridge Investment Advisors LLC Sells 2,132 Shares of ITT Inc. (NYSE:ITT)

SeaBridge Investment Advisors LLC decreased its holdings in ITT Inc. (NYSE:ITT - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,025 shares of the conglomerate's stock after selling 2,132 shares during the quarter. SeaBridge Investment Advisors LLC's holdings in ITT were worth $2,070,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC bought a new stake in shares of ITT in the first quarter worth $273,000. Intech Investment Management LLC grew its stake in shares of ITT by 218.0% in the fourth quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock worth $2,008,000 after purchasing an additional 9,633 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of ITT by 19.9% in the first quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate's stock worth $2,267,000 after purchasing an additional 2,917 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of ITT by 10.2% in the first 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 during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of ITT by 22.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,049 shares of the conglomerate's stock worth $1,293,000 after purchasing an additional 1,659 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

ITT Price Performance

ITT opened at $155.96 on Wednesday. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.79. The firm has a market capitalization of $12.27 billion, a PE ratio of 24.79, a P/E/G ratio of 2.01 and a beta of 1.35. The company's 50-day moving average is $152.66 and its 200 day moving average is $143.44.

ITT (NYSE:ITT - Get Free Report) last posted 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. ITT had a net margin of 14.19% and a return on equity of 17.75%. The company had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. During the same quarter in the prior year, the business posted $1.42 EPS. The firm's revenue was up .3% compared to the same quarter last year. As a group, analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Monday, June 2nd. ITT's payout ratio is 22.26%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ITT shares. Citigroup restated a "buy" rating and issued a $186.00 target price (up previously from $159.00) on shares of ITT in a report on Monday. The Goldman Sachs Group upped their price objective on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. KeyCorp upped their price objective on shares of ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Stifel Nicolaus upped their price objective on shares of ITT from $161.00 to $171.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Bank of America upped their price objective on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $170.00.

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.

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