ITT Inc. (NYSE:ITT) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its position in shares of ITT Inc. (NYSE:ITT) by 0.8% in the third quarter, HoldingsChannel.com reports. The fund owned 513,883 shares of the conglomerate’s stock after selling 4,370 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in ITT were worth $76,831,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. purchased a new stake in ITT in the second quarter valued at approximately $49,043,000. Select Equity Group L.P. boosted its holdings in shares of ITT by 11.7% in the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after acquiring an additional 351,206 shares during 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 period. AQR Capital Management LLC raised its holdings in shares of ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after purchasing an additional 131,708 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in ITT during the second quarter valued at $9,936,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of NYSE ITT opened at $155.60 on Thursday. 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 firm has a fifty day moving average of $149.15 and a 200 day moving average of $139.03. The firm has a market cap of $12.68 billion, a PE ratio of 26.55, a PEG ratio of 2.07 and a beta of 1.41. ITT Inc. has a one year low of $107.01 and a one year high of $161.13.

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

ITT Dividend Announcement

The company also recently announced 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 0.82%. ITT’s dividend payout ratio (DPR) is presently 21.67%.

Analyst Ratings Changes

A number of equities analysts have weighed in on ITT shares. KeyCorp lifted 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. The Goldman Sachs Group boosted their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Robert W. Baird dropped their price objective 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. 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. Finally, Stifel Nicolaus raised their price target on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, ITT currently has an average rating of “Moderate Buy” and a consensus target price of $161.88.

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.