Pathstone Holdings LLC Sells 688 Shares of ITT Inc. (NYSE:ITT)

Pathstone Holdings LLC reduced its position in ITT Inc. (NYSE:ITT) by 5.0% in the third quarter, Holdings Channel.com reports. The fund owned 13,090 shares of the conglomerate’s stock after selling 688 shares during the quarter. Pathstone Holdings LLC’s holdings in ITT were worth $1,957,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of ITT in the 3rd quarter worth about $26,000. Lynx Investment Advisory bought a new position in shares of ITT in the 2nd quarter worth approximately $27,000. Headlands Technologies LLC purchased a new position in ITT during the second quarter valued at $32,000. UMB Bank n.a. lifted its position in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 180 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of ITT in the 2nd quarter worth approximately $36,000. Institutional investors own 91.59% of the company’s stock.

ITT Trading Down 0.6 %

ITT stock opened at $158.68 on Wednesday. The business has a 50-day simple moving average of $148.76 and a two-hundred day simple moving average of $138.88. ITT Inc. has a 52-week low of $107.01 and a 52-week high of $161.13. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The company has a market cap of $12.93 billion, a P/E ratio of 27.08, a P/E/G ratio of 2.05 and a beta of 1.41.

ITT (NYSE:ITT) last announced its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating 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 business had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. During the same period in the prior year, the company earned $1.37 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Analysts predict that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The business also recently declared 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. This represents a $1.28 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, November 29th. ITT’s dividend payout ratio is presently 21.84%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird cut their target price on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. KeyCorp boosted their price target on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Stifel Nicolaus increased their price objective on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $161.88.

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.