Amalgamated Bank Reduces Stock Holdings in ITT Inc. (NYSE:ITT)

Amalgamated Bank lowered its holdings in shares of ITT Inc. (NYSE:ITT) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,189 shares of the conglomerate’s stock after selling 415 shares during the quarter. Amalgamated Bank’s holdings in ITT were worth $6,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ITT. Norden Group LLC purchased a new position in ITT during the first quarter valued at $211,000. BNP Paribas Financial Markets lifted its position in shares of ITT by 20.3% during the 1st quarter. BNP Paribas Financial Markets now owns 14,689 shares of the conglomerate’s stock valued at $1,998,000 after buying an additional 2,483 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of ITT by 0.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 27,424 shares of the conglomerate’s stock valued at $3,731,000 after acquiring an additional 159 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in ITT by 68.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,757 shares of the conglomerate’s stock worth $919,000 after acquiring an additional 2,734 shares in the last quarter. Finally, Tectonic Advisors LLC raised its stake in ITT by 9.5% during the 1st quarter. Tectonic Advisors LLC now owns 3,359 shares of the conglomerate’s stock worth $457,000 after acquiring an additional 292 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of ITT stock opened at $151.77 on Friday. The firm has a market cap of $12.37 billion, a PE ratio of 25.90, a PEG ratio of 1.87 and a beta of 1.41. The stock has a 50 day moving average of $143.77 and a 200 day moving average of $136.81. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. ITT Inc. has a 12 month low of $100.31 and a 12 month high of $154.35.

ITT (NYSE:ITT) last posted 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 return on equity of 17.98% and a net margin of 13.67%. The firm had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same period in the prior year, the company earned $1.37 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts expect that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.84%. ITT’s dividend payout ratio is currently 21.84%.

Analysts Set New Price Targets

A number of research firms have weighed in on ITT. Robert W. Baird dropped their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. 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 report on Thursday, October 31st. Stifel Nicolaus increased their price target on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. KeyCorp boosted their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group increased 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. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $157.78.

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.