Hsbc Holdings PLC Sells 6,036 Shares of ITT Inc. (NYSE:ITT)

Hsbc Holdings PLC decreased its position in shares of ITT Inc. (NYSE:ITT) by 47.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,683 shares of the conglomerate’s stock after selling 6,036 shares during the quarter. Hsbc Holdings PLC’s holdings in ITT were worth $955,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of ITT by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock worth $73,913,000 after acquiring an additional 3,424 shares during the period. Venturi Wealth Management LLC lifted its stake in ITT by 880.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate’s stock worth $308,000 after purchasing an additional 1,936 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of ITT by 422.7% in the 4th quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate’s stock valued at $601,000 after purchasing an additional 3,403 shares in the last quarter. ING Groep NV bought a new position in shares of ITT in the 4th quarter valued at $1,214,000. Finally, Intech Investment Management LLC lifted its position in shares of ITT by 218.0% during the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate’s stock worth $2,008,000 after buying an additional 9,633 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Up 2.7 %

Shares of NYSE:ITT opened at $141.63 on Friday. The firm has a market cap of $11.47 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.89 and a beta of 1.36. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The business has a fifty day simple moving average of $131.74 and a 200 day simple moving average of $142.64. 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 posted its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. The company had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 earnings per share. Analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Monday, June 2nd. ITT’s dividend payout ratio is presently 22.26%.

Analyst Ratings Changes

ITT has been the topic of a number of recent analyst reports. Citigroup decreased their target price on ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. KeyCorp upped their price objective on shares of ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group raised their target price on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Stifel Nicolaus upped their price target on shares of ITT from $148.00 to $161.00 and gave the stock a “buy” rating in a report on Friday. Finally, StockNews.com downgraded ITT from a “buy” rating to a “hold” rating in a report on Friday, April 25th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.86.

ITT Company 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.