Comerica Bank Sells 24,595 Shares of ITT Inc. (NYSE:ITT)

Comerica Bank trimmed its holdings in shares of ITT Inc. (NYSE:ITT) by 21.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,569 shares of the conglomerate’s stock after selling 24,595 shares during the period. Comerica Bank owned about 0.11% of ITT worth $12,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rise Advisors LLC lifted its position in shares of ITT by 788.5% during the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after buying an additional 205 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of ITT by 101.0% during the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after buying an additional 204 shares during the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of ITT during the first quarter valued at about $68,000. YHB Investment Advisors Inc. purchased a new stake in shares of ITT during the first quarter valued at about $76,000. Finally, Bfsg LLC purchased a new stake in shares of ITT during the fourth quarter valued at about $73,000. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on ITT. Stifel Nicolaus increased their price objective on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Citigroup increased their price objective on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. UBS Group increased their price objective on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. KeyCorp increased their price objective on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, TD Cowen increased their price target on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT has a consensus rating of “Buy” and a consensus price target of $144.88.

ITT Trading Down 2.5 %

Shares of NYSE ITT traded down $3.50 during trading on Thursday, hitting $137.96. 356,715 shares of the company were exchanged, compared to its average volume of 387,666. ITT Inc. has a 12-month low of $91.94 and a 12-month high of $149.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59. The company has a fifty day moving average price of $132.40 and a 200-day moving average price of $129.66. The firm has a market capitalization of $11.35 billion, a PE ratio of 27.74, a P/E/G ratio of 1.83 and a beta of 1.41.

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

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.92%. ITT’s dividend payout ratio (DPR) is currently 25.10%.

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.