Yousif Capital Management LLC Trims Stake in ITT Inc. (NYSE:ITT)

Yousif Capital Management LLC trimmed its stake in ITT Inc. (NYSE:ITT) by 2.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,931 shares of the conglomerate’s stock after selling 649 shares during the period. Yousif Capital Management LLC’s holdings in ITT were worth $3,737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Select Equity Group L.P. increased its stake in shares of ITT by 7.7% in the 4th quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate’s stock worth $652,237,000 after purchasing an additional 326,947 shares in the last quarter. Invesco Ltd. increased its stake in shares of ITT by 12.2% in the 4th quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate’s stock worth $222,947,000 after purchasing an additional 169,054 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of ITT by 14.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate’s stock worth $195,256,000 after purchasing an additional 169,944 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of ITT by 17.7% in the 4th quarter. Nuveen Asset Management LLC now owns 1,139,303 shares of the conglomerate’s stock worth $162,784,000 after purchasing an additional 171,474 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of ITT in the 4th quarter worth $134,433,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Stock Down 0.1%

ITT opened at $152.14 on Friday. The firm has a 50-day simple moving average of $140.89 and a two-hundred day simple moving average of $142.69. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13. The company has a market capitalization of $11.97 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.89 and a beta of 1.35. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, beating the consensus estimate of $1.44 by $0.01. ITT had a net margin of 14.27% and a return on equity of 18.03%. The business had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. During the same quarter in the prior year, the firm earned $1.42 EPS. The business’s revenue was up .3% on a year-over-year basis. Analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Monday, June 2nd. ITT’s payout ratio is 22.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ITT shares. The Goldman Sachs Group increased their price target on ITT from $160.00 to $177.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Bank of America increased their price target on ITT from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, May 21st. KeyCorp increased their price target on ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Wall Street Zen upgraded ITT from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Finally, Citigroup cut their price target on ITT from $181.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ITT currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.50.

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.