New York Life Investment Management LLC Has $1.03 Million Stock Position in ITT Inc. (NYSE:ITT)

New York Life Investment Management LLC cut its stake in shares of ITT Inc. (NYSE:ITT) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,625 shares of the conglomerate’s stock after selling 121 shares during the quarter. New York Life Investment Management LLC’s holdings in ITT were worth $1,029,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Bowen Hanes & Co. Inc. bought a new position in ITT in the third quarter valued at about $26,087,000. Invesco Ltd. increased its stake in shares of ITT by 46.6% in the third quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock valued at $60,130,000 after buying an additional 195,111 shares during the period. FMR LLC raised its holdings in ITT by 1.9% in the 3rd quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock valued at $742,319,000 after buying an additional 144,394 shares during the last quarter. Scopus Asset Management L.P. boosted its position in ITT by 127.3% during the 3rd quarter. Scopus Asset Management L.P. now owns 196,391 shares of the conglomerate’s stock worth $19,229,000 after buying an additional 110,000 shares during the period. Finally, Cookson Peirce & Co. Inc. bought a new stake in ITT during the 4th quarter worth approximately $9,111,000. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

Shares of ITT stock opened at $134.63 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $129.75 and a two-hundred day simple moving average of $119.36. ITT Inc. has a 12 month low of $75.82 and a 12 month high of $138.29. The firm has a market capitalization of $11.08 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43.

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

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.319 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.28 annualized dividend and a yield of 0.95%. ITT’s payout ratio is currently 25.10%.

Analysts Set New Price Targets

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

About ITT

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.