ITT Inc. (NYSE:ITT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in ITT Inc. (NYSE:ITT) by 22.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,952 shares of the conglomerate’s stock after selling 8,086 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in ITT were worth $3,611,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ontario Teachers Pension Plan Board acquired a new position in shares of ITT during the fourth quarter worth about $992,000. Vanguard Group Inc. boosted its holdings in ITT by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock worth $1,009,902,000 after buying an additional 65,173 shares in the last quarter. SageView Advisory Group LLC boosted its holdings in ITT by 383.3% during the first quarter. SageView Advisory Group LLC now owns 9,666 shares of the conglomerate’s stock worth $1,315,000 after buying an additional 7,666 shares in the last quarter. Norges Bank purchased a new stake in ITT during the fourth quarter worth about $102,709,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in ITT by 6.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,105 shares of the conglomerate’s stock worth $14,706,000 after buying an additional 6,143 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ITT has been the topic of several recent research reports. KeyCorp upped their price target on shares of ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their price objective on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, TD Cowen upped their price objective on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $151.00.

ITT Stock Performance

Shares of ITT stock opened at $139.18 on Wednesday. ITT Inc. has a one year low of $91.94 and a one year high of $149.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. The company has a 50 day moving average price of $135.14 and a 200 day moving average price of $132.35. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The company had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. During the same quarter in the prior year, the business earned $1.33 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Tuesday, September 3rd. ITT’s payout ratio is currently 24.90%.

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.