ITT Inc. (NYSE:ITT) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP cut its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 14.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 635,419 shares of the conglomerate's stock after selling 107,510 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.81% of ITT worth $82,071,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Merit Financial Group LLC bought a new stake in shares of ITT during the 1st quarter worth approximately $273,000. Sequoia Financial Advisors LLC raised its position in shares of ITT by 10.2% during the first quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock worth $3,853,000 after acquiring an additional 2,765 shares during the last quarter. XTX Topco Ltd bought a new stake in ITT in the first quarter worth approximately $1,214,000. Assenagon Asset Management S.A. increased its holdings in shares of ITT by 19.9% during the first quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate's stock valued at $2,267,000 after acquiring an additional 2,917 shares in the last quarter. Finally, HB Wealth Management LLC bought a new stake in ITT during the first quarter worth $348,000. 91.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ITT has been the topic of a number of recent research reports. Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Bank of America increased their price objective on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group lifted their price objective on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. DA Davidson set a $190.00 target price on shares of ITT and gave the company a "buy" rating in a report on Monday. Finally, Stifel Nicolaus lifted their price objective on ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, ITT has a consensus rating of "Moderate Buy" and a consensus target price of $179.22.

ITT Trading Down 0.4%

NYSE ITT traded down $0.60 on Thursday, reaching $164.66. 138,232 shares of the company were exchanged, compared to its average volume of 518,415. The business's fifty day moving average price is $156.73 and its 200 day moving average price is $145.44. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $12.84 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 2.05 and a beta of 1.38. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $170.16.

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 analysts' consensus estimates of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%. The business had revenue of $972.40 million for the quarter, compared to the consensus estimate of $947.48 million. During the same quarter in the prior year, the business posted $1.49 EPS. The business's revenue for the quarter was up 7.3% on a year-over-year basis. Analysts forecast 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 will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.351 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. ITT's dividend payout ratio (DPR) is 22.01%.

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.