Hsbc Holdings PLC Decreases Stock Position in ITT Inc. (NYSE:ITT)

Hsbc Holdings PLC lowered its position in ITT Inc. (NYSE:ITT - Free Report) by 47.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,683 shares of the conglomerate's stock after selling 6,036 shares during the period. Hsbc Holdings PLC's holdings in ITT were worth $955,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITT. Invesco Ltd. increased its stake in shares of ITT by 12.2% during the fourth quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate's stock valued at $222,947,000 after purchasing an additional 169,054 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of ITT by 14.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate's stock valued at $195,256,000 after acquiring an additional 169,944 shares in the last quarter. Norges Bank bought a new position in ITT in the 4th quarter worth about $134,433,000. Boston Partners raised its holdings in ITT by 7.0% in the fourth quarter. Boston Partners now owns 930,069 shares of the conglomerate's stock worth $132,915,000 after buying an additional 61,132 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of ITT by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate's stock worth $108,817,000 after buying an additional 3,727 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Stock Performance

Shares of NYSE:ITT traded down $1.20 during mid-day trading on Tuesday, reaching $142.09. 554,195 shares of the company traded hands, compared to its average volume of 451,771. The company's 50 day moving average price is $131.78 and its 200-day moving average price is $142.54. The firm has a market cap of $11.50 billion, a PE ratio of 22.55, a PEG ratio of 1.89 and a beta of 1.36. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

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

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 dividend yield of 0.99%. The ex-dividend date is Monday, June 2nd. ITT's dividend payout ratio is currently 22.26%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. KeyCorp boosted their price objective on shares of ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday. Stifel Nicolaus upped their price target on ITT from $148.00 to $161.00 and gave the company a "buy" rating in a report on Friday. UBS Group lifted their price objective on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, February 7th. StockNews.com downgraded shares of ITT from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, Citigroup dropped their target price on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, ITT has an average rating of "Moderate Buy" and an average price target of $161.86.

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.