Quest Partners LLC Decreases Stock Position in ITT Inc. (NYSE:ITT)

Quest Partners LLC decreased its stake in shares of ITT Inc. (NYSE:ITT) by 95.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 805 shares of the conglomerate’s stock after selling 16,415 shares during the quarter. Quest Partners LLC’s holdings in ITT were worth $120,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of ITT during the third quarter worth $26,000. Lynx Investment Advisory purchased a new position in shares of ITT in the 2nd quarter valued at about $27,000. Headlands Technologies LLC purchased a new stake in ITT during the second quarter worth approximately $32,000. UMB Bank n.a. boosted its holdings in ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in ITT in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a report on Wednesday. TD Cowen lifted their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their target price on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Stifel Nicolaus lifted their price target on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird decreased their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.88.

ITT Stock Up 0.7 %

Shares of NYSE:ITT opened at $156.40 on Friday. The company has a market cap of $12.75 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.02 and a beta of 1.41. ITT Inc. has a fifty-two week low of $107.10 and a fifty-two week high of $161.13. The firm’s 50-day simple moving average is $149.67 and its 200-day simple moving average is $139.26. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $884.50 million. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts predict that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.82%. ITT’s dividend payout ratio (DPR) is currently 21.84%.

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.