Victory Capital Management Inc. Decreases Stake in ITT Inc. (NYSE:ITT)

Victory Capital Management Inc. cut its position in shares of ITT Inc. (NYSE:ITT) by 17.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,296 shares of the conglomerate’s stock after selling 58,640 shares during the quarter. Victory Capital Management Inc.’s holdings in ITT were worth $32,132,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its stake in ITT by 101.0% during the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after purchasing an additional 204 shares during the last quarter. Clearstead Advisors LLC lifted its stake in ITT by 81.7% during the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock worth $54,000 after purchasing an additional 250 shares during the last quarter. Bfsg LLC bought a new position in ITT during the fourth quarter worth $73,000. GAMMA Investing LLC bought a new position in ITT during the fourth quarter worth $94,000. Finally, Fifth Third Bancorp lifted its stake in ITT by 20.1% in the third quarter. Fifth Third Bancorp now owns 1,263 shares of the conglomerate’s stock valued at $124,000 after buying an additional 211 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ITT shares. DA Davidson raised their target price on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. StockNews.com cut ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. Citigroup raised their target price on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, April 8th. KeyCorp raised their target price on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Stifel Nicolaus raised their price target on ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $135.57.

ITT Price Performance

Shares of ITT opened at $131.49 on Tuesday. The stock’s fifty day moving average is $129.56 and its 200-day moving average is $119.08. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43. ITT Inc. has a one year low of $75.82 and a one year high of $138.29. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59.

ITT (NYSE:ITT) last released its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $910.60 million for the quarter, compared to analyst estimates of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. ITT’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 earnings per share. Equities analysts anticipate that ITT Inc. will post 5.8 EPS for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Monday, June 3rd. ITT’s payout ratio is currently 25.10%.

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.