Varma Mutual Pension Insurance Co Has $8.27 Million Holdings in ITT Inc. (NYSE:ITT)

Varma Mutual Pension Insurance Co decreased its stake in ITT Inc. (NYSE:ITT) by 52.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,000 shares of the conglomerate’s stock after selling 70,100 shares during the quarter. Varma Mutual Pension Insurance Co owned 0.08% of ITT worth $8,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in ITT by 3.3% during the 4th quarter. M&T Bank Corp now owns 5,223 shares of the conglomerate’s stock worth $623,000 after acquiring an additional 168 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of ITT by 9.3% in the 4th quarter. Private Advisor Group LLC now owns 4,535 shares of the conglomerate’s stock valued at $541,000 after buying an additional 386 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of ITT by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,916 shares of the conglomerate’s stock valued at $61,201,000 after buying an additional 11,154 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new stake in ITT during the 4th quarter worth $227,000. Finally, Inceptionr LLC lifted its holdings in ITT by 9.9% during the fourth quarter. Inceptionr LLC now owns 5,644 shares of the conglomerate’s stock worth $673,000 after acquiring an additional 509 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

ITT has been the subject of several recent analyst reports. KeyCorp increased their price target on ITT from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their target price on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, TD Cowen upped their price target on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $151.00.

ITT Price Performance

NYSE ITT opened at $130.95 on Tuesday. The company has a market capitalization of $10.78 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.68 and a beta of 1.40. The firm’s 50 day moving average is $134.52 and its 200-day moving average is $132.07. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. ITT Inc. has a 12-month low of $91.94 and a 12-month high of $149.65.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $916.38 million. During the same quarter in the prior year, the business posted $1.33 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

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

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.