ITT Inc. (NYSE:ITT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its stake in shares of ITT Inc. (NYSE:ITT) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,737 shares of the conglomerate’s stock after selling 469 shares during the period. Federated Hermes Inc.’s holdings in ITT were worth $1,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lynx Investment Advisory acquired a new stake in ITT during the 2nd quarter valued at $27,000. Rise Advisors LLC raised its position in ITT by 788.5% during 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 during the period. Headlands Technologies LLC purchased a new stake in ITT in the 2nd quarter worth about $32,000. Massmutual Trust Co. FSB ADV grew its stake in ITT by 71.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after acquiring an additional 145 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of ITT by 38.7% in the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock valued at $58,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Trading Down 1.5 %

Shares of NYSE:ITT opened at $144.51 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $11.89 billion, a PE ratio of 28.34, a P/E/G ratio of 1.71 and a beta of 1.40. ITT Inc. has a 1 year low of $91.94 and a 1 year high of $149.65. The firm has a fifty day moving average price of $136.08 and a 200 day moving average price of $132.74.

ITT (NYSE:ITT) last released its quarterly 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 the consensus estimate of $916.38 million. During the same quarter in the prior year, the company posted $1.33 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. Analysts expect that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, September 3rd. ITT’s dividend payout ratio is 24.90%.

Wall Street Analyst Weigh In

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

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.