Trexquant Investment LP Reduces Holdings in ITT Inc. (NYSE:ITT)

Trexquant Investment LP trimmed its position in shares of ITT Inc. (NYSE:ITT – Get Rating) by 53.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,828 shares of the conglomerate’s stock after selling 20,089 shares during the quarter. Trexquant Investment LP’s holdings in ITT were worth $1,165,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ITT. Ronald Blue Trust Inc. purchased a new stake in shares of ITT during the second quarter worth approximately $26,000. Lazard Asset Management LLC purchased a new stake in shares of ITT during the second quarter worth approximately $30,000. Private Trust Co. NA acquired a new position in ITT during the second quarter worth $30,000. FNY Investment Advisers LLC acquired a new position in ITT during the third quarter worth $32,000. Finally, Bessemer Group Inc. boosted its stake in ITT by 337.5% during the third quarter. Bessemer Group Inc. now owns 595 shares of the conglomerate’s stock worth $39,000 after buying an additional 459 shares during the last quarter. 90.16% of the stock is currently owned by hedge funds and other institutional investors.

ITT Trading Down 2.1 %

ITT stock opened at $84.64 on Tuesday. The company has a market capitalization of $7.00 billion, a PE ratio of 19.28, a P/E/G ratio of 1.46 and a beta of 1.43. ITT Inc. has a 12-month low of $63.77 and a 12-month high of $95.18. The business’s fifty day moving average price is $89.44 and its 200 day moving average price is $80.63.

ITT (NYSE:ITT – Get Rating) last posted its quarterly earnings data on Thursday, February 9th. The conglomerate reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. The firm had revenue of $774.60 million for the quarter, compared to the consensus estimate of $766.82 million. ITT had a return on equity of 17.63% and a net margin of 12.28%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS. Research analysts predict that ITT Inc. will post 4.81 EPS for the current fiscal year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Thursday, March 9th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Wednesday, March 8th. This is an increase from ITT’s previous quarterly dividend of $0.26. ITT’s payout ratio is currently 26.42%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ITT shares. StockNews.com raised ITT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 28th. Robert W. Baird boosted their price objective on ITT from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 10th. Citigroup boosted their price objective on ITT from $94.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 13th. DA Davidson boosted their price objective on ITT from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, February 13th. Finally, KeyCorp boosted their price objective on ITT from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 10th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ITT presently has a consensus rating of “Moderate Buy” and an average price target of $95.30.

ITT Profile

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ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions primarily for the transportation, industrial, and energy markets. It operates through the following segments: Motion Technologies, Industrial Process, Connect and Control Technologies, and Corporate and Other.