Public Employees Retirement Association of Colorado Sells 186 Shares of ITT Inc. (NYSE:ITT)

Public Employees Retirement Association of Colorado cut its stake in shares of ITT Inc. (NYSE:ITT) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,031 shares of the conglomerate’s stock after selling 186 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in ITT were worth $1,167,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ITT. Eagle Bluffs Wealth Management LLC increased its stake in ITT by 0.4% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock valued at $2,457,000 after purchasing an additional 82 shares in the last quarter. HBK Sorce Advisory LLC increased its position in shares of ITT by 4.7% during the first quarter. HBK Sorce Advisory LLC now owns 2,306 shares of the conglomerate’s stock valued at $314,000 after acquiring an additional 104 shares in the last quarter. Blue Trust Inc. raised its holdings in ITT by 38.7% in the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock worth $58,000 after acquiring an additional 118 shares during the last quarter. Private Advisor Group LLC lifted its position in ITT by 2.7% in the 2nd quarter. Private Advisor Group LLC now owns 4,608 shares of the conglomerate’s stock valued at $595,000 after acquiring an additional 122 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in ITT by 5.3% during the 1st quarter. Bleakley Financial Group LLC now owns 2,840 shares of the conglomerate’s stock valued at $386,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Price Performance

NYSE ITT opened at $147.70 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $12.16 billion, a P/E ratio of 28.96, a PEG ratio of 1.71 and a beta of 1.40. The company has a 50-day moving average price of $136.35 and a 200-day moving average price of $133.05. ITT Inc. has a 52 week low of $91.94 and a 52 week high of $149.65.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share 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 business had revenue of $905.90 million for the quarter, compared to the consensus estimate of $916.38 million. During the same period last year, the firm earned $1.33 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Tuesday, September 3rd. ITT’s payout ratio is 24.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. KeyCorp upped their price target on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. TD Cowen raised their price target on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Stifel Nicolaus lifted their price target on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $151.00.

ITT 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.