Raymond James & Associates Lowers Stock Holdings in ITT Inc. (NYSE:ITT)

Raymond James & Associates decreased its position in shares of ITT Inc. (NYSE:ITTGet Rating) by 5.3% during the third quarter, HoldingsChannel reports. The firm owned 38,879 shares of the conglomerate’s stock after selling 2,187 shares during the period. Raymond James & Associates’ holdings in ITT were worth $2,540,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of ITT by 10.5% during the first quarter. American Century Companies Inc. now owns 9,253 shares of the conglomerate’s stock valued at $696,000 after buying an additional 878 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of ITT by 9.5% during the first quarter. Panagora Asset Management Inc. now owns 16,808 shares of the conglomerate’s stock valued at $1,264,000 after buying an additional 1,462 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of ITT by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,372 shares of the conglomerate’s stock valued at $2,359,000 after buying an additional 2,992 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of ITT by 3.5% during the first quarter. Great West Life Assurance Co. Can now owns 76,995 shares of the conglomerate’s stock valued at $5,949,000 after buying an additional 2,592 shares during the last quarter. Finally, Synovus Financial Corp grew its stake in shares of ITT by 1.2% during the first quarter. Synovus Financial Corp now owns 17,523 shares of the conglomerate’s stock valued at $1,330,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 90.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ITT. Robert W. Baird cut their target price on ITT from $88.00 to $83.00 in a research note on Friday, November 4th. Citigroup raised their target price on ITT from $82.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, December 9th. Stifel Nicolaus lifted their price objective on ITT from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. KeyCorp lifted their price objective on ITT from $90.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, StockNews.com initiated coverage on ITT in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

ITT Stock Performance

ITT stock opened at $86.09 on Friday. The firm has a 50 day moving average price of $82.75 and a 200-day moving average price of $76.38. ITT Inc. has a 52-week low of $63.77 and a 52-week high of $96.63. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.47 and a beta of 1.43.

ITT (NYSE:ITTGet Rating) last released its earnings results on Thursday, November 3rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.02. ITT had a net margin of 12.26% and a return on equity of 16.95%. The firm had revenue of $753.60 million during the quarter, compared to analyst estimates of $754.17 million. As a group, sell-side analysts forecast that ITT Inc. will post 4.39 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 1st were issued a $0.264 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $1.06 dividend on an annualized basis and a yield of 1.23%. ITT’s payout ratio is currently 25.24%.

ITT Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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