Covestor Ltd Sells 462 Shares of ITT Inc. (NYSE:ITT)

Covestor Ltd cut its position in shares of ITT Inc. (NYSE:ITT) by 51.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 441 shares of the conglomerate’s stock after selling 462 shares during the period. Covestor Ltd’s holdings in ITT were worth $66,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Atria Investments Inc increased its position in shares of ITT by 3.4% during the third quarter. Atria Investments Inc now owns 4,912 shares of the conglomerate’s stock valued at $734,000 after purchasing an additional 163 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of ITT during the third quarter valued at approximately $26,000. JB Capital LLC increased its position in shares of ITT by 5.0% during the third quarter. JB Capital LLC now owns 11,155 shares of the conglomerate’s stock valued at $1,668,000 after purchasing an additional 527 shares during the period. Radnor Capital Management LLC boosted its stake in ITT by 6.6% in the 3rd quarter. Radnor Capital Management LLC now owns 3,243 shares of the conglomerate’s stock valued at $485,000 after buying an additional 200 shares in the last quarter. Finally, Marks Group Wealth Management Inc boosted its stake in ITT by 1.5% in the 3rd quarter. Marks Group Wealth Management Inc now owns 64,094 shares of the conglomerate’s stock valued at $9,583,000 after buying an additional 917 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Trading Down 1.2 %

NYSE ITT opened at $151.75 on Friday. The stock has a 50-day simple moving average of $145.62 and a 200 day simple moving average of $137.64. The company has a market capitalization of $12.37 billion, a PE ratio of 25.90, a P/E/G ratio of 1.99 and a beta of 1.41. 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 $107.00 and a 12 month high of $155.52.

ITT (NYSE:ITT) last released its quarterly earnings data 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 business had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same quarter in the prior year, the company posted $1.37 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Research analysts forecast that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.84%. ITT’s dividend payout ratio (DPR) is currently 21.67%.

Analyst Ratings Changes

Several analysts recently commented on the company. Robert W. Baird decreased their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their price target on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. KeyCorp boosted their price target on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, TD Cowen boosted their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target 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.