ITT Inc. (NYSE:ITT) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in ITT Inc. (NYSE:ITT) by 0.9% in the first quarter, HoldingsChannel reports. The fund owned 8,278,044 shares of the conglomerate’s stock after selling 74,341 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of ITT worth $1,069,192,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. increased its stake in ITT by 13.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate’s stock valued at $107,000 after buying an additional 87 shares during the period. Stephens Inc. AR lifted its holdings in shares of ITT by 4.8% during the 1st quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate’s stock worth $254,000 after acquiring an additional 90 shares during the period. Prudent Man Advisors LLC increased its position in shares of ITT by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 4,280 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 98 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in ITT by 0.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,643 shares of the conglomerate’s stock valued at $2,150,000 after acquiring an additional 100 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in ITT by 1.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,609 shares of the conglomerate’s stock valued at $1,499,000 after acquiring an additional 123 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Up 0.0%

Shares of NYSE ITT opened at $165.75 on Tuesday. The business has a 50-day moving average of $157.64 and a 200-day moving average of $145.61. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 2.04 and a beta of 1.38. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $170.16. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24.

ITT (NYSE:ITT) last released its earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.02. The company had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%. ITT’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS. Sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be given a $0.351 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. ITT’s payout ratio is presently 22.01%.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $5,994,792.60. Following the completion of the sale, the chief executive officer owned 297,536 shares in the company, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ITT has been the topic of several recent analyst reports. KeyCorp lifted their price objective on shares of ITT from $180.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Citigroup reissued a “buy” rating and issued a $186.00 target price (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. Stifel Nicolaus increased their target price on shares of ITT from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Wall Street Zen raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Finally, DA Davidson set a $190.00 price objective on ITT and gave the company a “buy” rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, ITT presently has a consensus rating of “Moderate Buy” and an average target price of $179.22.

ITT 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.