Fmr LLC Sells 194,417 Shares of ITT Inc. (NYSE:ITT)

Fmr LLC trimmed its position in shares of ITT Inc. (NYSE:ITT) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,189,080 shares of the conglomerate’s stock after selling 194,417 shares during the period. Fmr LLC owned 0.06% of ITT worth $775,820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Private Trust Co. NA raised its position in shares of ITT by 232.2% during the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 209 shares during the period. Loomis Sayles & Co. L P raised its position in shares of ITT by 1.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 381,580 shares of the conglomerate’s stock valued at $57,050,000 after purchasing an additional 4,271 shares during the period. Fisher Asset Management LLC increased its holdings in ITT by 9.4% in the 3rd quarter. Fisher Asset Management LLC now owns 114,136 shares of the conglomerate’s stock valued at $17,064,000 after acquiring an additional 9,839 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in ITT in the 3rd quarter valued at $75,000. Finally, Westfield Capital Management Co. LP increased its holdings in ITT by 4.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock valued at $100,100,000 after acquiring an additional 27,885 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

Shares of NYSE:ITT opened at $155.60 on Thursday. ITT Inc. has a 52 week low of $107.01 and a 52 week high of $161.13. The stock has a market capitalization of $12.68 billion, a P/E ratio of 26.55, a PEG ratio of 2.07 and a beta of 1.41. The firm has a fifty day simple moving average of $149.15 and a two-hundred day simple moving average of $139.03. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last released its quarterly 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. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. During the same period in the previous year, the company earned $1.37 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts expect that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a dividend of $0.319 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.82%. ITT’s dividend payout ratio is presently 21.67%.

Analysts Set New Price Targets

ITT has been the topic of a number of research reports. 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. KeyCorp lifted their price target on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen lifted their price target on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Robert W. Baird dropped their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $161.88.

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.