Washington Capital Management Inc. Sells 4,000 Shares of ITT Inc. (NYSE:ITT)

Washington Capital Management Inc. reduced its position in ITT Inc. (NYSE:ITT - Free Report) by 43.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,265 shares of the conglomerate's stock after selling 4,000 shares during the period. Washington Capital Management Inc.'s holdings in ITT were worth $680,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in ITT by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock valued at $73,913,000 after buying an additional 3,424 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in ITT by 880.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock worth $308,000 after purchasing an additional 1,936 shares during the period. AlphaQuest LLC boosted its stake in ITT by 422.7% in the 4th quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock worth $601,000 after purchasing an additional 3,403 shares during the period. ING Groep NV bought a new position in ITT in the 4th quarter worth about $1,214,000. Finally, Intech Investment Management LLC boosted its stake in ITT by 218.0% in the 4th 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 period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ITT has been the topic of several recent analyst reports. Bank of America increased their target price on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Stifel Nicolaus lifted their price target on ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Citigroup decreased their price target on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, KeyCorp raised their price objective on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $165.50.

ITT Trading Up 0.6%

ITT traded up $0.84 during midday trading on Wednesday, reaching $152.56. 369,278 shares of the company's stock traded hands, compared to its average volume of 449,371. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The firm has a fifty day moving average of $139.33 and a two-hundred day moving average of $142.67. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 1.89 and a beta of 1.35. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.01. The business had revenue of $913.00 million for the quarter, compared to analysts' expectations of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. The business's revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 EPS. On average, equities analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 0.92%. The ex-dividend date is Monday, June 2nd. ITT's dividend payout ratio is currently 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.