ITT Inc. (NYSE:ITT) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in ITT Inc. (NYSE:ITT) by 3.8% during the third quarter, HoldingsChannel reports. The firm owned 9,611 shares of the conglomerate’s stock after selling 376 shares during the period. HighTower Advisors LLC’s holdings in ITT were worth $1,429,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ITT. Capital Performance Advisors LLP acquired a new position in ITT in the 3rd quarter valued at about $26,000. UMB Bank n.a. grew its stake in shares of ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of ITT in the second quarter valued at approximately $32,000. Brown Brothers Harriman & Co. purchased a new stake in shares of ITT during the second quarter worth approximately $36,000. Finally, Quent Capital LLC raised its stake in shares of ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after purchasing an additional 103 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITT has been the topic of several recent research reports. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. The Goldman Sachs Group boosted 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, October 10th. KeyCorp raised their price objective on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Citigroup lifted their price objective on ITT from $176.00 to $183.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus increased their target price on ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ITT currently has an average rating of “Moderate Buy” and a consensus price target of $166.75.

ITT Stock Performance

ITT opened at $150.70 on Monday. ITT Inc. has a 1-year low of $113.70 and a 1-year high of $161.13. The stock has a market cap of $12.28 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.99 and a beta of 1.40. The stock’s 50 day simple moving average is $151.18 and its 200 day simple moving average is $140.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09.

ITT (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. During the same quarter in the prior year, the company earned $1.37 earnings per share. ITT’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.85%. ITT’s dividend payout ratio (DPR) is currently 21.67%.

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.