Ameritas Investment Partners Inc. Trims Stake in ITT Inc. (NYSE:ITT)

Ameritas Investment Partners Inc. trimmed its stake in ITT Inc. (NYSE:ITT) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,105 shares of the conglomerate’s stock after selling 623 shares during the period. Ameritas Investment Partners Inc.’s holdings in ITT were worth $4,018,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its stake in shares of ITT by 46.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 59,912 shares of the conglomerate’s stock worth $7,739,000 after purchasing an additional 19,123 shares in the last quarter. Sei Investments Co. increased its stake in ITT by 2.8% in the 2nd quarter. Sei Investments Co. now owns 81,477 shares of the conglomerate’s stock worth $10,526,000 after buying an additional 2,191 shares in the last quarter. Pacer Advisors Inc. increased its stake in ITT by 16.2% in the 2nd quarter. Pacer Advisors Inc. now owns 23,219 shares of the conglomerate’s stock worth $2,999,000 after buying an additional 3,232 shares in the last quarter. AE Wealth Management LLC increased its stake in ITT by 5.9% in the 2nd quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock worth $233,000 after buying an additional 100 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in ITT by 1.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 18,200 shares of the conglomerate’s stock worth $2,351,000 after buying an additional 200 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ITT Stock Down 1.6 %

NYSE:ITT opened at $144.46 on Friday. The stock has a fifty day simple moving average of $135.89 and a 200-day simple moving average of $132.58. 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 company has a market cap of $11.89 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth 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.

ITT (NYSE:ITT) last released its quarterly earnings data 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. The company had revenue of $905.90 million during the quarter, compared to analysts’ expectations of $916.38 million. ITT had a net margin of 12.47% and a return on equity of 18.30%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.33 EPS. Analysts anticipate that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 is Tuesday, September 3rd. ITT’s dividend payout ratio is 24.90%.

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.