Venturi Wealth Management LLC Cuts Stock Holdings in ITT Inc. (NYSE:ITT)

Venturi Wealth Management LLC reduced its position in ITT Inc. (NYSE:ITT) by 41.8% in the third quarter, Holdings Channel.com reports. The fund owned 220 shares of the conglomerate’s stock after selling 158 shares during the period. Venturi Wealth Management LLC’s holdings in ITT were worth $33,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ITT. Capital Performance Advisors LLP purchased a new position in shares of ITT in the third quarter worth $26,000. Lynx Investment Advisory bought a new stake in ITT in the 2nd quarter worth about $27,000. UMB Bank n.a. increased its holdings in ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after buying an additional 180 shares in the last quarter. Headlands Technologies LLC purchased a new position in ITT in the 2nd quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. bought a new position in ITT during the 2nd quarter valued at about $36,000. 91.59% of the stock is owned by institutional investors.

ITT Stock Performance

NYSE:ITT opened at $152.67 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock has a 50-day simple moving average of $146.09 and a two-hundred day simple moving average of $137.78. The firm has a market capitalization of $12.44 billion, a PE ratio of 26.05, a P/E/G ratio of 1.99 and a beta of 1.41. ITT Inc. has a 52-week low of $107.01 and a 52-week high of $155.52.

ITT (NYSE:ITT) last posted its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. During the same period in the prior year, the business posted $1.37 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Analysts forecast that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.84%. ITT’s payout ratio is 21.84%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. TD Cowen boosted their target price on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price target on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird reduced their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, KeyCorp increased their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $157.78.

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.