Rhumbline Advisers Sells 2,144 Shares of ITT Inc. (NYSE:ITT)

Rhumbline Advisers cut its holdings in ITT Inc. (NYSE:ITT) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 219,171 shares of the conglomerate’s stock after selling 2,144 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of ITT worth $28,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITT. Trust Point Inc. grew its holdings in ITT by 45.6% during the 4th quarter. Trust Point Inc. now owns 3,261 shares of the conglomerate’s stock worth $466,000 after acquiring an additional 1,022 shares in the last quarter. Tectonic Advisors LLC grew its holdings in ITT by 4.2% during the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock worth $435,000 after acquiring an additional 123 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in ITT by 21.2% during the 4th quarter. Bleakley Financial Group LLC now owns 3,498 shares of the conglomerate’s stock worth $500,000 after acquiring an additional 611 shares in the last quarter. Vest Financial LLC grew its holdings in ITT by 63.8% during the 4th quarter. Vest Financial LLC now owns 17,004 shares of the conglomerate’s stock worth $2,430,000 after acquiring an additional 6,626 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its holdings in ITT by 3.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 63,388 shares of the conglomerate’s stock worth $9,057,000 after acquiring an additional 1,846 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on ITT shares. Wall Street Zen upgraded shares of ITT from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Stifel Nicolaus increased their target price on shares of ITT from $161.00 to $171.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Bank of America raised their price target on shares of ITT from $145.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Citigroup lowered their price target on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group raised their price target on shares of ITT from $160.00 to $177.00 and gave the company a “buy” rating in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.50.

ITT Stock Down 0.6%

NYSE:ITT opened at $149.78 on Friday. The stock has a market capitalization of $11.79 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The company’s 50-day simple moving average is $137.89 and its 200-day simple moving average is $142.81. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13.

ITT (NYSE:ITT) last announced 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. The firm had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. ITT’s revenue was up .3% on a year-over-year basis. During the same period last year, the firm posted $1.42 EPS. On average, equities analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, June 2nd. ITT’s payout ratio is currently 22.26%.

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.