Creative Planning Sells 331 Shares of ITT Inc. (NYSE:ITT)

Creative Planning lessened its holdings in shares of ITT Inc. (NYSE:ITT) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,698 shares of the conglomerate’s stock after selling 331 shares during the quarter. Creative Planning’s holdings in ITT were worth $2,048,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lynx Investment Advisory bought a new position in ITT during the second quarter valued at approximately $27,000. Headlands Technologies LLC bought a new position in ITT during the second quarter valued at approximately $32,000. UMB Bank n.a. raised its position in ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 180 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in ITT during the second quarter valued at approximately $36,000. Finally, Quent Capital LLC grew its holdings in ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

ITT has been the topic of several analyst reports. The Goldman Sachs Group increased their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. TD Cowen increased their price target on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Stifel Nicolaus increased their price target on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, KeyCorp increased their price target on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $155.25.

ITT Trading Up 0.3 %

Shares of ITT stock opened at $143.78 on Monday. The company’s fifty day simple moving average is $142.17 and its 200-day simple moving average is $135.81. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.92 and a beta of 1.40. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. ITT Inc. has a 1 year low of $91.94 and a 1 year high of $153.99.

ITT (NYSE:ITT) last issued its earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping the consensus estimate of $1.46 by $0.03. The firm had revenue of $905.90 million during the quarter, compared to analysts’ expectations of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. ITT’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $1.33 earnings per share. As a group, sell-side analysts expect that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.319 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.89%. ITT’s payout ratio is presently 24.43%.

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.