Farmers & Merchants Investments Inc. Sells 1,729 Shares of ITT Inc. (NYSE:ITT)

Farmers & Merchants Investments Inc. cut its holdings in ITT Inc. (NYSE:ITT) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,262 shares of the conglomerate’s stock after selling 1,729 shares during the period. Farmers & Merchants Investments Inc.’s holdings in ITT were worth $8,606,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ITT. Allspring Global Investments Holdings LLC raised its position in shares of ITT by 540.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 61,379 shares of the conglomerate’s stock valued at $8,349,000 after purchasing an additional 51,789 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new stake in shares of ITT during the 1st quarter valued at $204,000. Register Financial Advisors LLC raised its position in shares of ITT by 4.5% during the 1st quarter. Register Financial Advisors LLC now owns 3,454 shares of the conglomerate’s stock valued at $470,000 after purchasing an additional 150 shares during the period. Benson Investment Management Company Inc. raised its position in shares of ITT by 1.5% during the 1st quarter. Benson Investment Management Company Inc. now owns 38,819 shares of the conglomerate’s stock valued at $5,281,000 after purchasing an additional 562 shares during the period. Finally, Running Oak Capital LLC grew its stake in ITT by 4.6% during the first quarter. Running Oak Capital LLC now owns 91,908 shares of the conglomerate’s stock valued at $12,502,000 after acquiring an additional 4,029 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

NYSE:ITT traded up $0.08 during trading hours on Tuesday, hitting $126.18. 65,841 shares of the company were exchanged, compared to its average volume of 387,569. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 1.67 and a beta of 1.42. ITT Inc. has a 52-week low of $90.83 and a 52-week high of $140.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The company’s 50 day moving average price is $131.91 and its 200-day moving average price is $126.95.

ITT (NYSE:ITT) last posted its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The firm had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $883.21 million. During the same period in the previous year, the business posted $1.17 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. As a group, research analysts forecast that ITT Inc. will post 5.85 earnings per share for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, June 3rd. ITT’s dividend payout ratio is currently 25.10%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ITT shares. UBS Group raised their target price on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Stifel Nicolaus lifted their price objective on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. DA Davidson lifted their price objective on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Citigroup lifted their price objective on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, KeyCorp lifted their price target on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $138.38.

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.