New York State Common Retirement Fund Sells 6,496 Shares of ITT Inc. (NYSE:ITT)

New York State Common Retirement Fund lowered its stake in ITT Inc. (NYSE:ITT - Free Report) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,293 shares of the conglomerate's stock after selling 6,496 shares during the quarter. New York State Common Retirement Fund owned approximately 0.08% of ITT worth $7,552,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in ITT by 8.2% in the 4th quarter. Signaturefd LLC now owns 1,150 shares of the conglomerate's stock worth $137,000 after purchasing an additional 87 shares in the last quarter. State of Michigan Retirement System raised its holdings in ITT by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 19,729 shares of the conglomerate's stock valued at $2,354,000 after buying an additional 100 shares during the last quarter. Round Rock Advisors LLC boosted its position in ITT by 0.5% during the 4th quarter. Round Rock Advisors LLC now owns 20,183 shares of the conglomerate's stock worth $2,408,000 after buying an additional 104 shares during the period. Eagle Bluffs Wealth Management LLC grew its holdings in ITT by 0.6% during the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 18,820 shares of the conglomerate's stock worth $2,246,000 after acquiring an additional 114 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in ITT by 4.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,716 shares of the conglomerate's stock valued at $267,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Stock Performance

ITT stock traded up $3.79 during mid-day trading on Friday, reaching $128.28. The stock had a trading volume of 540,258 shares, compared to its average volume of 370,138. The stock's 50-day simple moving average is $129.40 and its 200-day simple moving average is $118.33. ITT Inc. has a fifty-two week low of $75.82 and a fifty-two week high of $138.29. The firm has a market capitalization of $10.55 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. The firm had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. The business's revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm posted $1.17 EPS. On average, research analysts forecast that ITT Inc. will post 5.8 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, July 1st. Investors of record on Monday, June 3rd will be paid a $0.319 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.28 annualized dividend and a yield of 0.99%. ITT's payout ratio is 25.81%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Citigroup increased their price objective on ITT from $139.00 to $157.00 and gave the company a "buy" rating in a report on Monday, April 8th. KeyCorp raised their price target on shares of ITT from $136.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. StockNews.com lowered shares of ITT from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 6th. DA Davidson lifted their target price on shares of ITT from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Tuesday, March 26th. Finally, Stifel Nicolaus increased their price target on ITT from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $135.57.

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.