Farmers & Merchants Investments Inc. Sells 1,729 Shares of ITT Inc. (NYSE:ITT)

Farmers & Merchants Investments Inc. lowered its position in ITT Inc. (NYSE:ITT) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,262 shares of the conglomerate’s stock after selling 1,729 shares during the quarter. Farmers & Merchants Investments Inc. owned 0.08% of ITT worth $8,606,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Rise Advisors LLC lifted its position in shares of ITT by 788.5% during the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after buying an additional 205 shares during the period. AdvisorNet Financial Inc lifted its position in shares of ITT by 101.0% during the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after buying an additional 204 shares during the period. Bfsg LLC bought a new position in shares of ITT during the 4th quarter worth approximately $73,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of ITT during the 4th quarter worth approximately $78,000. Finally, GAMMA Investing LLC bought a new position in shares of ITT during the 4th quarter worth approximately $94,000. Institutional investors own 91.59% of the company’s stock.

ITT Trading Up 0.1 %

ITT traded up $0.08 during midday trading on Tuesday, reaching $126.18. 65,841 shares of the company were exchanged, compared to its average volume of 387,569. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59. ITT Inc. has a one year low of $90.83 and a one year high of $140.20. The stock has a market capitalization of $10.38 billion, a P/E ratio of 24.71, a PEG ratio of 1.67 and a beta of 1.42. The stock’s 50-day simple moving average is $131.91 and its 200 day simple moving average is $126.95.

ITT (NYSE:ITT) last posted its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ITT had a return on equity of 18.21% and a net margin of 12.41%. The firm had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $883.21 million. During the same period in the previous year, the firm earned $1.17 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. As a group, analysts forecast that ITT Inc. will post 5.85 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.319 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.01%. ITT’s dividend payout ratio (DPR) is 25.10%.

Analysts Set New Price Targets

Several equities analysts recently commented on ITT shares. Citigroup raised their target price on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. UBS Group upped their price target on shares of ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Stifel Nicolaus boosted their target price on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. KeyCorp upped their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, DA Davidson raised their price target on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, ITT has an average rating of “Buy” and a consensus price target of $138.38.

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.