Hancock Whitney Corp Lowers Holdings in ITT Inc. (NYSE:ITT)

Hancock Whitney Corp lowered its position in shares of ITT Inc. (NYSE:ITT) by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,085 shares of the conglomerate’s stock after selling 1,746 shares during the quarter. Hancock Whitney Corp’s holdings in ITT were worth $2,188,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITT. Rise Advisors LLC increased its stake in ITT by 788.5% during the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 205 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of ITT by 101.0% during the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after acquiring an additional 204 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in shares of ITT during the first quarter valued at about $68,000. Bfsg LLC purchased a new stake in shares of ITT in the 4th quarter valued at approximately $73,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of ITT in the 1st quarter worth approximately $76,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Price Performance

NYSE ITT traded down $2.90 during trading hours on Thursday, reaching $138.56. The company’s stock had a trading volume of 333,271 shares, compared to its average volume of 387,507. The company’s 50-day moving average is $132.40 and its two-hundred day moving average is $129.66. The stock has a market cap of $11.40 billion, a PE ratio of 27.74, a PEG ratio of 1.83 and a beta of 1.41. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59. ITT Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $149.65.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $910.60 million for the quarter, compared to analyst estimates of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. ITT’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 EPS. Analysts forecast that ITT Inc. will post 5.85 EPS for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. ITT’s dividend payout ratio is currently 25.10%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ITT shares. TD Cowen boosted their price target on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Stifel Nicolaus boosted their target price on ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Citigroup increased their price target on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. KeyCorp raised their price target on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, UBS Group upped their price target on ITT from $135.00 to $158.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $144.88.

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.