ITT Inc. (NYSE:ITT) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its position in shares of ITT Inc. (NYSE:ITT) by 61.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,924 shares of the conglomerate’s stock after selling 20,919 shares during the quarter. Edgestream Partners L.P.’s holdings in ITT were worth $1,670,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ITT. Lynx Investment Advisory purchased a new stake in shares of ITT in the 2nd quarter valued at $27,000. Rise Advisors LLC lifted its position in 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 purchasing an additional 205 shares during the period. Headlands Technologies LLC purchased a new stake in ITT in the second quarter valued at $32,000. Brown Brothers Harriman & Co. acquired a new stake in ITT during the 2nd quarter worth about $36,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of ITT by 71.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after buying an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ITT shares. Stifel Nicolaus upped their target price on ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. KeyCorp raised their price objective on shares of ITT from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, TD Cowen boosted their target price 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT currently has a consensus rating of “Buy” and an average price target of $151.00.

ITT Trading Up 5.8 %

Shares of ITT stock opened at $146.78 on Friday. The stock has a 50 day simple moving average of $135.59 and a 200-day simple moving average of $132.48. ITT Inc. has a 1-year low of $91.94 and a 1-year high of $149.65. The company has a market cap of $12.08 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 1.71 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10.

ITT (NYSE:ITT) last released its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business had revenue of $905.90 million for the quarter, compared to the consensus estimate of $916.38 million. During the same quarter last year, the business posted $1.33 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a $0.319 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.28 annualized dividend and a dividend yield of 0.87%. ITT’s dividend payout ratio (DPR) is 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.