New York State Teachers Retirement System Sells 7,300 Shares of ITT Inc. (NYSE:ITT)

New York State Teachers Retirement System lessened its holdings in shares of ITT Inc. (NYSE:ITT) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 88,736 shares of the conglomerate’s stock after selling 7,300 shares during the quarter. New York State Teachers Retirement System owned 0.11% of ITT worth $11,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITT. Rialto Wealth Management LLC acquired a new position in shares of ITT in the fourth quarter valued at approximately $26,000. Quarry LP lifted its position in ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 125 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in ITT by 291.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate’s stock worth $59,000 after purchasing an additional 309 shares during the period. Kapitalo Investimentos Ltda bought a new position in ITT during the 4th quarter worth about $59,000. Finally, Versant Capital Management Inc raised its stake in shares of ITT by 3,513.3% in the 1st quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate’s stock valued at $70,000 after purchasing an additional 527 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. The Goldman Sachs Group upped their price target on ITT from $160.00 to $177.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Citigroup lowered their price target on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. KeyCorp increased their price objective on shares of ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Stifel Nicolaus lifted their target price on ITT from $161.00 to $171.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Finally, Bank of America increased their price target on ITT from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.50.

ITT Stock Performance

ITT stock opened at $161.39 on Friday. The stock has a 50-day simple moving average of $149.61 and a 200 day simple moving average of $142.67. The stock has a market capitalization of $12.70 billion, a P/E ratio of 25.66, a PEG ratio of 2.09 and a beta of 1.35. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.53.

ITT (NYSE:ITT) last posted its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. ITT had a return on equity of 17.75% and a net margin of 14.19%. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. During the same period in the previous year, the firm earned $1.42 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Research analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were issued a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Monday, June 2nd. ITT’s payout ratio is 22.26%.

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.