ITT Inc. (NYSE:ITT) Holdings Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in shares of ITT Inc. (NYSE:ITT) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,871 shares of the conglomerate’s stock after selling 1,067 shares during the period. PNC Financial Services Group Inc.’s holdings in ITT were worth $4,041,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital International Investors raised its position in ITT by 0.3% during the fourth quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock valued at $1,123,533,000 after acquiring an additional 29,057 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of ITT by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after purchasing an additional 65,173 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of ITT by 1.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,354,082 shares of the conglomerate’s stock valued at $132,581,000 after purchasing an additional 14,857 shares during the last quarter. Norges Bank bought a new stake in ITT in the fourth quarter worth $102,709,000. Finally, Fiduciary Management Inc. WI increased its position in ITT by 3.8% during the fourth quarter. Fiduciary Management Inc. WI now owns 742,571 shares of the conglomerate’s stock worth $88,604,000 after buying an additional 27,210 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Up 2.0 %

NYSE ITT opened at $130.95 on Thursday. ITT Inc. has a twelve month low of $85.92 and a twelve month high of $140.20. The stock has a market cap of $10.78 billion, a PE ratio of 25.68, a PEG ratio of 1.67 and a beta of 1.44. The firm has a 50-day simple moving average of $131.64 and a 200 day simple moving average of $125.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $910.60 million during the quarter, compared to the consensus estimate of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. On average, research analysts forecast that ITT Inc. will post 5.85 EPS for the current year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Monday, June 3rd. ITT’s dividend payout ratio is 25.10%.

Analysts Set New Price Targets

A number of research analysts have recently commented on ITT shares. Stifel Nicolaus increased their price objective on ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Citigroup lifted their price target on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. DA Davidson raised their target price on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. KeyCorp boosted their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, UBS Group raised their price target on ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT presently has an average rating of “Buy” and an average target price of $138.38.

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.