Fifth Third Bancorp Sells 85 Shares of ITT Inc. (NYSE:ITT)

Fifth Third Bancorp decreased its position in shares of ITT Inc. (NYSE:ITT) by 3.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,119 shares of the conglomerate’s stock after selling 85 shares during the period. Fifth Third Bancorp’s holdings in ITT were worth $303,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in ITT in the third quarter worth about $26,000. Resources Management Corp CT ADV purchased a new position in shares of ITT in the third quarter worth approximately $30,000. ORG Wealth Partners LLC bought a new stake in ITT during the fourth quarter valued at approximately $30,000. UMB Bank n.a. raised its position in ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 180 shares during the period. Finally, Quent Capital LLC raised its position in ITT by 53.9% in the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after acquiring an additional 103 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on ITT shares. TD Cowen raised their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup cut their target price on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Robert W. Baird lowered their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, KeyCorp increased their target price on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.13.

ITT Stock Down 0.6 %

ITT opened at $150.91 on Friday. ITT Inc. has a 12 month low of $118.58 and a 12 month high of $161.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The business has a 50 day simple moving average of $148.78 and a 200-day simple moving average of $144.55. The stock has a market capitalization of $12.30 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.77 and a beta of 1.41.

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

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.