Xponance Inc. Trims Stake in ITT Inc. (NYSE:ITT)

Xponance Inc. reduced its holdings in ITT Inc. (NYSE:ITT) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,862 shares of the conglomerate’s stock after selling 961 shares during the quarter. Xponance Inc.’s holdings in ITT were worth $1,145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ITT. Eagle Bluffs Wealth Management LLC increased its position in shares of ITT by 0.4% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock worth $2,457,000 after purchasing an additional 82 shares during the last quarter. AE Wealth Management LLC increased its holdings in shares of ITT by 5.9% in the 2nd quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock worth $233,000 after buying an additional 100 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of ITT by 4.7% in the 1st quarter. HBK Sorce Advisory LLC now owns 2,306 shares of the conglomerate’s stock worth $314,000 after buying an additional 104 shares during the last quarter. Blue Trust Inc. raised its position in shares of ITT by 38.7% during the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock valued at $58,000 after buying an additional 118 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of ITT by 2.7% during the 2nd quarter. Private Advisor Group LLC now owns 4,608 shares of the conglomerate’s stock worth $595,000 after acquiring an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Down 0.4 %

Shares of ITT stock opened at $150.00 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The business has a 50-day moving average of $136.99 and a 200 day moving average of $133.43. The stock has a market capitalization of $12.35 billion, a PE ratio of 29.41, a P/E/G ratio of 1.89 and a beta of 1.40. ITT Inc. has a 1-year low of $91.94 and a 1-year high of $152.21.

ITT (NYSE:ITT) last issued its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The firm had revenue of $905.90 million for the quarter, compared to analysts’ expectations of $916.38 million. During the same quarter last year, the business earned $1.33 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.319 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.85%. ITT’s dividend payout ratio is presently 24.90%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ITT shares. KeyCorp raised their price target on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised their price objective on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, TD Cowen upped their target price on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $151.00.

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.