Fort L.P. Sells 125 Shares of ITT Inc. (NYSE:ITT)

Fort L.P. reduced its holdings in ITT Inc. (NYSE:ITT) by 7.6% in the third quarter, HoldingsChannel reports. The firm owned 1,516 shares of the conglomerate’s stock after selling 125 shares during the period. Fort L.P.’s holdings in ITT were worth $227,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. SageView Advisory Group LLC increased its holdings in ITT by 383.3% in the first quarter. SageView Advisory Group LLC now owns 9,666 shares of the conglomerate’s stock worth $1,315,000 after purchasing an additional 7,666 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in ITT by 6.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,105 shares of the conglomerate’s stock worth $14,706,000 after purchasing an additional 6,143 shares in the last quarter. Vident Advisory LLC increased its holdings in ITT by 603.0% in the first quarter. Vident Advisory LLC now owns 34,072 shares of the conglomerate’s stock worth $4,635,000 after purchasing an additional 29,225 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in ITT by 19.5% in the first quarter. Russell Investments Group Ltd. now owns 54,785 shares of the conglomerate’s stock worth $7,452,000 after purchasing an additional 8,956 shares in the last quarter. Finally, Algert Global LLC bought a new stake in ITT in the second quarter worth approximately $1,158,000. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Up 0.3 %

Shares of NYSE:ITT traded up $0.41 during mid-day trading on Friday, hitting $140.53. 455,693 shares of the company traded hands, compared to its average volume of 415,286. The stock has a market cap of $11.45 billion, a P/E ratio of 23.98, a P/E/G ratio of 1.86 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. ITT Inc. has a 12-month low of $95.53 and a 12-month high of $153.99. The stock has a 50-day moving average price of $142.94 and a two-hundred day moving average price of $136.20.

ITT (NYSE:ITT) last announced its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.03. The company had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 earnings per share. On average, equities research analysts forecast that ITT Inc. will post 5.82 earnings per share for the current year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.319 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.91%. ITT’s payout ratio is 21.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ITT shares. TD Cowen lifted their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus lifted their target price on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. KeyCorp boosted their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group boosted their price objective on 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 decreased their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT has a consensus rating of “Buy” and a consensus target price of $157.78.

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.