Shell Asset Management Co. Cuts Stock Position in ITT Inc. (NYSE:ITT)

Shell Asset Management Co. lowered its stake in ITT Inc. (NYSE:ITTGet Rating) by 12.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,458 shares of the conglomerate’s stock after selling 1,102 shares during the period. Shell Asset Management Co.’s holdings in ITT were worth $561,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of ITT in the 4th quarter worth approximately $3,095,000. Teacher Retirement System of Texas grew its stake in shares of ITT by 19.0% in the 4th quarter. Teacher Retirement System of Texas now owns 16,600 shares of the conglomerate’s stock worth $1,696,000 after buying an additional 2,654 shares during the last quarter. Rhumbline Advisers grew its stake in shares of ITT by 1.3% in the 4th quarter. Rhumbline Advisers now owns 224,810 shares of the conglomerate’s stock worth $22,973,000 after buying an additional 2,926 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in ITT by 12.4% during the 4th quarter. Segall Bryant & Hamill LLC now owns 159,083 shares of the conglomerate’s stock valued at $16,258,000 after purchasing an additional 17,554 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in ITT by 1,490.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 252,233 shares of the conglomerate’s stock valued at $18,970,000 after purchasing an additional 236,371 shares during the last quarter. Hedge funds and other institutional investors own 95.64% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $73.47 on Wednesday. ITT Inc. has a one year low of $63.77 and a one year high of $105.54. The stock’s fifty day moving average is $69.70 and its 200 day moving average is $76.57. The stock has a market cap of $6.13 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.46 and a beta of 1.47.

ITT (NYSE:ITTGet Rating) last announced its earnings results on Tuesday, May 3rd. The conglomerate reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. ITT had a return on equity of 15.90% and a net margin of 10.92%. The company had revenue of $726.20 million for the quarter, compared to analysts’ expectations of $695.93 million. During the same period last year, the firm earned $1.06 EPS. ITT’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts predict that ITT Inc. will post 4.34 EPS for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be paid a $0.264 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.44%. ITT’s payout ratio is presently 29.94%.

Analyst Upgrades and Downgrades

ITT has been the topic of several recent analyst reports. UBS Group upgraded ITT from a “neutral” rating to a “buy” rating and cut their target price for the company from $107.00 to $95.00 in a research note on Friday, April 8th. DA Davidson cut their target price on ITT from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, June 21st. The Goldman Sachs Group cut their target price on ITT from $109.00 to $94.00 and set a “buy” rating on the stock in a research note on Thursday, April 7th. Robert W. Baird cut their target price on ITT from $90.00 to $84.00 in a research note on Wednesday, May 4th. Finally, Cowen lowered their price target on ITT from $105.00 to $92.00 in a report on Monday, June 13th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.00.

ITT Company Profile

(Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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.

See Also

Institutional Ownership by Quarter for ITT (NYSE:ITT)

Receive News & Ratings for ITT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT and related companies with MarketBeat.com's FREE daily email newsletter.