Fort L.P. Has $227,000 Stock Holdings in ITT Inc. (NYSE:ITT)

Fort L.P. lessened its holdings in shares of ITT Inc. (NYSE:ITT) by 7.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,516 shares of the conglomerate’s stock after selling 125 shares during the period. Fort L.P.’s holdings in ITT were worth $227,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SageView Advisory Group LLC boosted its position in shares of ITT by 383.3% during the first quarter. SageView Advisory Group LLC now owns 9,666 shares of the conglomerate’s stock worth $1,315,000 after purchasing an additional 7,666 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ITT by 6.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,105 shares of the conglomerate’s stock worth $14,706,000 after purchasing an additional 6,143 shares in the last quarter. Vident Advisory LLC boosted its position in shares of ITT by 603.0% during the first quarter. Vident Advisory LLC now owns 34,072 shares of the conglomerate’s stock worth $4,635,000 after purchasing an additional 29,225 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of ITT by 19.5% during the first quarter. Russell Investments Group Ltd. now owns 54,785 shares of the conglomerate’s stock worth $7,452,000 after purchasing an additional 8,956 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of ITT during the second quarter worth $1,158,000. 91.59% of the stock is owned by institutional investors.

ITT Price Performance

Shares of ITT stock traded up $0.41 on Friday, reaching $140.53. 455,693 shares of the stock were exchanged, compared to its average volume of 415,286. The firm’s 50 day moving average is $142.94 and its 200-day moving average is $136.20. ITT Inc. has a one year low of $95.53 and a one year high of $153.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.58. The firm has a market cap of $11.45 billion, a PE ratio of 23.98, a P/E/G ratio of 1.86 and a beta of 1.41.

ITT (NYSE:ITT) last announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The firm had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. During the same period last year, the firm posted $1.37 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts anticipate that ITT Inc. will post 5.82 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.319 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.91%. ITT’s dividend payout ratio (DPR) is 21.84%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Robert W. Baird cut their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday. Stifel Nicolaus boosted their price objective on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. TD Cowen boosted their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday. KeyCorp boosted their price objective on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group boosted their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT has an average rating of “Buy” and a consensus target price of $157.78.

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.