ITT Inc. (NYSE:ITT) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in shares of ITT Inc. (NYSE:ITT) by 16.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,604 shares of the conglomerate’s stock after selling 7,910 shares during the quarter. Amalgamated Bank owned 0.05% of ITT worth $5,374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ITT. Eagle Bluffs Wealth Management LLC raised its holdings in shares of 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 buying an additional 82 shares during the period. HBK Sorce Advisory LLC lifted 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 worth $314,000 after purchasing an additional 104 shares in the last quarter. Blue Trust Inc. lifted its position in shares of ITT by 38.7% during the second quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock worth $58,000 after purchasing an additional 118 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of ITT by 2.7% in the second quarter. Private Advisor Group LLC now owns 4,608 shares of the conglomerate’s stock valued at $595,000 after purchasing an additional 122 shares during the period. Finally, Bleakley Financial Group LLC grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

ITT has been the subject of a number of analyst reports. KeyCorp upped 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. Stifel Nicolaus upped their target price on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, TD Cowen raised their price target on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $151.00.

ITT Stock Down 1.6 %

Shares of ITT stock opened at $144.46 on Friday. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.71 and a beta of 1.40. ITT Inc. has a twelve month low of $91.94 and a twelve month high of $149.65. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $135.89 and its 200-day simple moving average is $132.58.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.03. The firm had revenue of $905.90 million for the quarter, compared to the consensus estimate of $916.38 million. ITT had a net margin of 12.47% and a return on equity of 18.30%. ITT’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $1.33 EPS. Equities research analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm 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 dividend of $0.319 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.88%. ITT’s dividend payout ratio (DPR) is presently 24.90%.

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.