ITT Inc. (NYSE:ITT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in ITT Inc. (NYSE:ITT) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,122 shares of the conglomerate’s stock after selling 1,796 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of ITT worth $6,087,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lynx Investment Advisory acquired a new position in shares of ITT in the second quarter worth $27,000. Rise Advisors LLC boosted its holdings in ITT by 788.5% in 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 acquired a new position in ITT during the 2nd quarter worth $32,000. Brown Brothers Harriman & Co. purchased a new stake in ITT during the 2nd quarter worth about $36,000. Finally, Massmutual Trust Co. FSB ADV raised its position in ITT by 71.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

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

ITT Stock Performance

Shares of ITT opened at $144.46 on Friday. The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40. ITT Inc. has a 52-week low of $91.94 and a 52-week high of $149.65. 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 stock has a 50 day moving average price of $135.89 and a 200 day moving average price of $132.58.

ITT (NYSE:ITT) last issued its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $916.38 million. During the same quarter in the prior year, the business posted $1.33 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts predict 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 Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, September 3rd. ITT’s payout ratio is currently 24.90%.

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.