Pathstone Holdings LLC Reduces Stock Position in ITT Inc. (NYSE:ITT)

Pathstone Holdings LLC decreased its stake in shares of ITT Inc. (NYSE:ITT) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,090 shares of the conglomerate’s stock after selling 688 shares during the period. Pathstone Holdings LLC’s holdings in ITT were worth $1,957,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Select Equity Group L.P. grew its position in shares of ITT by 11.7% during the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after acquiring an additional 351,206 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ITT by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock worth $123,338,000 after buying an additional 50,329 shares during the period. Bank of New York Mellon Corp grew its stake in ITT by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock valued at $106,961,000 after acquiring an additional 3,370 shares in the last quarter. Millennium Management LLC increased its stake in shares of ITT by 200.4% in the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after acquiring an additional 262,470 shares during the last quarter. Finally, Mawer Investment Management Ltd. purchased a new stake in shares of ITT during the 2nd quarter worth about $49,043,000. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird decreased their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. KeyCorp upped their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Stifel Nicolaus lifted their price target on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen boosted their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT currently has an average rating of “Buy” and an average target price of $161.88.

ITT Stock Down 0.6 %

ITT stock opened at $158.68 on Wednesday. The firm has a 50-day moving average price of $148.76 and a 200-day moving average price of $138.88. The stock has a market capitalization of $12.93 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 2.05 and a beta of 1.41. ITT Inc. has a 12 month low of $107.01 and a 12 month high of $161.13. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same period last year, the company earned $1.37 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that ITT Inc. will post 5.84 EPS for the current fiscal 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 issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s dividend payout ratio is currently 21.84%.

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.