Assenagon Asset Management S.A. Decreases Stake in ITT Inc. (NYSE:ITT)

Assenagon Asset Management S.A. cut its holdings in shares of ITT Inc. (NYSE:ITT) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,634 shares of the conglomerate’s stock after selling 1,766 shares during the quarter. Assenagon Asset Management S.A.’s holdings in ITT were worth $2,091,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of ITT in the third quarter valued at approximately $26,000. Resources Management Corp CT ADV purchased a new position in ITT in the 3rd quarter valued at approximately $30,000. ORG Wealth Partners LLC bought a new stake in ITT during the 4th quarter valued at $30,000. UMB Bank n.a. lifted its position in shares of ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 180 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in shares of ITT by 53.9% in the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after acquiring an additional 103 shares during the period. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ITT shares. Robert W. Baird decreased their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus lifted their target price on ITT from $171.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. The Goldman Sachs Group increased their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Wolfe Research began coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Two research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.25.

ITT Trading Down 0.4 %

Shares of ITT opened at $153.31 on Thursday. ITT Inc. has a 1-year low of $118.58 and a 1-year high of $161.13. The company has a market capitalization of $12.50 billion, a P/E ratio of 26.16, a P/E/G ratio of 1.81 and a beta of 1.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The firm’s 50 day simple moving average is $149.38 and its 200 day simple moving average is $143.74.

ITT (NYSE:ITT) last posted its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm 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 posted $1.37 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts forecast that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, November 29th. ITT’s payout ratio is currently 21.84%.

About ITT

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.