Public Employees Retirement System of Ohio Has $8.27 Million Position in ITT Inc. (NYSE:ITT)

Public Employees Retirement System of Ohio trimmed its stake in shares of ITT Inc. (NYSE:ITT) by 3.4% in the third quarter, Holdings Channel.com reports. The firm owned 55,293 shares of the conglomerate’s stock after selling 1,973 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in ITT were worth $8,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. CWM LLC grew its position in ITT by 69.1% during the 2nd quarter. CWM LLC now owns 1,331 shares of the conglomerate’s stock worth $172,000 after acquiring an additional 544 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of ITT by 3.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,313 shares of the conglomerate’s stock valued at $1,074,000 after buying an additional 266 shares during the period. Blue Trust Inc. grew its holdings in ITT by 38.7% during the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock worth $58,000 after acquiring an additional 118 shares during the last quarter. Raymond James & Associates raised its stake in shares of ITT by 1.6% during the second quarter. Raymond James & Associates now owns 67,473 shares of the conglomerate’s stock valued at $8,716,000 after acquiring an additional 1,036 shares during the last quarter. Finally, Leeward Investments LLC MA lifted its holdings in shares of ITT by 5.6% during the second quarter. Leeward Investments LLC MA now owns 196,174 shares of the conglomerate’s stock worth $25,342,000 after purchasing an additional 10,485 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $152.16 on Friday. ITT Inc. has a one year low of $111.96 and a one year high of $161.13. The business has a 50-day simple moving average of $151.13 and a 200 day simple moving average of $140.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 2.02 and a beta of 1.40.

ITT (NYSE:ITT) last announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. The business had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.37 EPS. On average, research analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.84%. ITT’s dividend payout ratio (DPR) is 21.67%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ITT shares. The Goldman Sachs Group raised their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wolfe Research initiated coverage on ITT in a research note on Wednesday. They issued a “peer perform” rating on the stock. Robert W. Baird lowered their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. TD Cowen upped their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a research report on Saturday, December 7th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.75.

ITT 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.