Shell Asset Management Co. Has $991,000 Holdings in ITT Inc. (NYSE:ITT)

Shell Asset Management Co. lessened its holdings in shares of ITT Inc. (NYSE:ITTFree Report) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,122 shares of the conglomerate’s stock after selling 175 shares during the period. Shell Asset Management Co.’s holdings in ITT were worth $991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its position in shares of ITT by 6.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 2,882 shares of the conglomerate’s stock worth $269,000 after purchasing an additional 167 shares in the last quarter. State of Wyoming grew its position in shares of ITT by 20.7% during the 2nd quarter. State of Wyoming now owns 3,266 shares of the conglomerate’s stock worth $304,000 after purchasing an additional 559 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of ITT by 6.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,831 shares of the conglomerate’s stock worth $3,713,000 after purchasing an additional 2,583 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of ITT by 198.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 64,364 shares of the conglomerate’s stock worth $6,302,000 after purchasing an additional 42,767 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its position in shares of ITT by 0.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 68,162 shares of the conglomerate’s stock worth $6,353,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 90.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ITT shares. Citigroup increased their price target on shares of ITT from $122.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Stifel Nicolaus increased their price target on shares of ITT from $122.00 to $131.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Bank of America upgraded shares of ITT from a “neutral” rating to a “buy” rating and increased their price target for the stock from $105.00 to $125.00 in a research report on Thursday, November 16th. Eight investment 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 a consensus target price of $117.43.

Read Our Latest Stock Analysis on ITT

Insider Activity

In other news, SVP Ryan F. Flynn sold 2,500 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $113.44, for a total transaction of $283,600.00. Following the completion of the transaction, the senior vice president now owns 14,047 shares of the company’s stock, valued at $1,593,491.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

ITT Price Performance

Shares of ITT stock opened at $122.36 on Friday. ITT Inc. has a fifty-two week low of $75.82 and a fifty-two week high of $127.13. The firm has a market capitalization of $10.05 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.59 and a beta of 1.44. The company’s 50 day moving average price is $118.11 and its two-hundred day moving average price is $106.15.

ITT (NYSE:ITTGet Free Report) last issued its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The firm had revenue of $829.10 million for the quarter, compared to analyst estimates of $814.38 million. During the same quarter last year, the business posted $1.29 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts expect that ITT Inc. will post 5.75 earnings per share for the current year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be given a $0.319 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.28 dividend on an annualized basis and a yield of 1.04%. This is a positive change from ITT’s previous quarterly dividend of $0.29. ITT’s dividend payout ratio (DPR) is currently 23.39%.

About ITT

(Free Report)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates in 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.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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