Park Avenue Securities LLC Decreases Stock Holdings in ITT Inc. (NYSE:ITT)

Park Avenue Securities LLC reduced its position in shares of ITT Inc. (NYSE:ITT) by 16.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,145 shares of the conglomerate’s stock after selling 610 shares during the period. Park Avenue Securities LLC’s holdings in ITT were worth $470,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Lynx Investment Advisory bought a new stake in shares of ITT in the 2nd quarter worth approximately $27,000. Rise Advisors LLC increased its stake in shares of ITT by 788.5% in the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 205 shares in the last quarter. Headlands Technologies LLC bought a new stake in ITT during the second quarter worth about $32,000. Brown Brothers Harriman & Co. purchased a new stake in ITT in the second quarter worth about $36,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in 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 purchasing an additional 145 shares during the period. 91.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on ITT. KeyCorp boosted their price target on ITT from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus increased their target price on ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. TD Cowen lifted their price target on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, The Goldman Sachs Group upped their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT presently has a consensus rating of “Buy” and an average price target of $152.88.

ITT Trading Up 2.0 %

Shares of NYSE:ITT opened at $151.98 on Friday. 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 Inc. has a 1 year low of $91.94 and a 1 year high of $153.02. The company has a market cap of $12.42 billion, a P/E ratio of 29.00, a PEG ratio of 2.01 and a beta of 1.40. The stock’s fifty day moving average price is $138.97 and its 200-day moving average price is $134.77.

ITT (NYSE:ITT) last posted its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The business 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 earned $1.33 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts expect that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is presently 24.43%.

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.