HighTower Advisors LLC Lowers Stock Position in ITT Inc. (NYSE:ITT)

HighTower Advisors LLC trimmed its stake in ITT Inc. (NYSE:ITT) by 3.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,611 shares of the conglomerate’s stock after selling 376 shares during the period. HighTower Advisors LLC’s holdings in ITT were worth $1,429,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Select Equity Group L.P. raised its position in ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after purchasing an additional 351,206 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of ITT by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock valued at $123,338,000 after buying an additional 50,329 shares during the period. Bank of New York Mellon Corp lifted its stake in ITT by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock worth $106,961,000 after acquiring an additional 3,370 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in ITT by 4.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock valued at $100,100,000 after acquiring an additional 27,885 shares during the period. Finally, Eagle Asset Management Inc. acquired a new position in ITT in the 3rd quarter valued at about $67,503,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. Stifel Nicolaus boosted their price target on shares of ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Citigroup upped their price objective on ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wolfe Research assumed coverage on ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, ITT currently has an average rating of “Moderate Buy” and a consensus target price of $166.75.

ITT Price Performance

Shares of NYSE ITT opened at $150.70 on Monday. The stock’s 50-day simple moving average is $151.18 and its 200-day simple moving average is $140.64. The firm has a market capitalization of $12.28 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.99 and a beta of 1.40. ITT Inc. has a fifty-two week low of $113.70 and a fifty-two week high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58.

ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same quarter last year, the company earned $1.37 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Friday, November 29th. ITT’s dividend payout ratio (DPR) is currently 21.67%.

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.