Intech Investment Management LLC Sells 7,241 Shares of ITT Inc. (NYSE:ITT)

Intech Investment Management LLC trimmed its position in ITT Inc. (NYSE:ITT) by 62.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,418 shares of the conglomerate’s stock after selling 7,241 shares during the period. Intech Investment Management LLC’s holdings in ITT were worth $661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITT. Mawer Investment Management Ltd. bought a new stake in ITT in the 2nd quarter valued at about $49,043,000. Select Equity Group L.P. increased its stake in shares of ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after purchasing an additional 351,206 shares in the last quarter. Millennium Management LLC raised its position in shares of ITT by 200.4% in the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after purchasing an additional 262,470 shares during the period. AQR Capital Management LLC lifted its stake in shares of ITT by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after buying an additional 131,708 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in ITT in the 2nd quarter worth approximately $9,936,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Up 0.5 %

ITT stock opened at $156.12 on Friday. ITT Inc. has a one year low of $107.10 and a one year high of $161.13. The stock has a fifty day moving average of $149.91 and a 200 day moving average of $139.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock has a market cap of $12.73 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41.

ITT (NYSE:ITT) last announced its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.37 EPS. As a group, sell-side analysts predict that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.319 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.82%. ITT’s payout ratio is currently 21.84%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Stifel Nicolaus boosted their price objective on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Wednesday. KeyCorp boosted their price objective on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Robert W. Baird cut their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, TD Cowen upped their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $161.88.

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.