Victory Capital Management Inc. Reduces Holdings in ITT Inc. (NYSE:ITT)

Victory Capital Management Inc. reduced its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 228,718 shares of the conglomerate's stock after selling 49,815 shares during the period. Victory Capital Management Inc. owned 0.28% of ITT worth $29,541,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Select Equity Group L.P. increased its holdings in shares of ITT by 7.7% during the 4th quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock worth $652,237,000 after buying an additional 326,947 shares during the last quarter. Invesco Ltd. grew its position in ITT by 12.2% in the fourth quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate's stock worth $222,947,000 after acquiring an additional 169,054 shares during the period. Alliancebernstein L.P. grew its position in ITT by 14.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate's stock worth $195,256,000 after acquiring an additional 169,944 shares during the period. Nuveen Asset Management LLC increased its stake in ITT by 17.7% during the fourth quarter. Nuveen Asset Management LLC now owns 1,139,303 shares of the conglomerate's stock worth $162,784,000 after acquiring an additional 171,474 shares during the last quarter. Finally, Norges Bank purchased a new stake in ITT in the fourth quarter valued at $134,433,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Performance

Shares of ITT stock traded down $1.06 during trading hours on Thursday, reaching $158.93. 341,775 shares of the company were exchanged, compared to its average volume of 384,874. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.79. The stock's fifty day moving average is $154.29 and its 200 day moving average is $144.21. The firm has a market cap of $12.51 billion, a PE ratio of 25.27, a PEG ratio of 2.02 and a beta of 1.35.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.01. The business had revenue of $913.00 million during the quarter, compared to analysts' expectations of $901.22 million. ITT had a net margin of 14.19% and a return on equity of 17.75%. The company's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 EPS. Research analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were given a dividend of $0.351 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.88%. ITT's dividend payout ratio is currently 22.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. 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. Citigroup reiterated a "buy" rating and set a $186.00 price target (up from $159.00) on shares of ITT in a research report on Monday, July 14th. Stifel Nicolaus upped their price objective on shares of ITT from $171.00 to $197.00 and gave the stock a "buy" rating in a report on Monday. Bank of America lifted their target price on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, The Goldman Sachs Group upped their price target on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. One investment 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 a consensus price target of $173.25.

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.