ITT Inc. (NYSE:ITT) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lessened its stake in ITT Inc. (NYSE:ITT) by 54.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 510 shares of the conglomerate’s stock after selling 600 shares during the quarter. Asset Dedication LLC’s holdings in ITT were worth $66,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ITT. Lynx Investment Advisory acquired a new position in ITT in the second quarter valued at approximately $27,000. Rise Advisors LLC increased its holdings in ITT by 788.5% in the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after buying an additional 205 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of ITT by 71.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock worth $45,000 after acquiring an additional 145 shares during the period. Blue Trust Inc. boosted its stake in shares of ITT by 38.7% during the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock worth $58,000 after acquiring an additional 118 shares in the last quarter. Finally, Tradewinds Capital Management LLC acquired a new stake in shares of ITT during the 1st quarter valued at about $68,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ITT Stock Up 1.5 %

Shares of NYSE ITT opened at $130.95 on Tuesday. ITT Inc. has a 1 year low of $91.94 and a 1 year high of $149.65. The company has a market capitalization of $10.78 billion, a P/E ratio of 25.68, a P/E/G ratio of 1.68 and a beta of 1.40. The company has a 50 day simple moving average of $134.52 and a 200-day simple moving average of $132.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10.

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

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.97%. The ex-dividend date is Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is presently 24.90%.

ITT Company 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.