ITT Inc. (NYSE:ITT) Shares Sold by Covea Finance

Covea Finance reduced its position in ITT Inc. (NYSE:ITT) by 13.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 219,900 shares of the conglomerate’s stock after selling 34,900 shares during the period. ITT accounts for about 1.4% of Covea Finance’s holdings, making the stock its 20th biggest holding. Covea Finance’s holdings in ITT were worth $31,419,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in ITT in the 3rd quarter valued at $26,000. Resources Management Corp CT ADV purchased a new position in shares of ITT during the third quarter worth about $30,000. ORG Wealth Partners LLC acquired a new position in ITT in the 4th quarter valued at about $30,000. Headlands Technologies LLC acquired a new position in ITT in the 2nd quarter valued at about $32,000. Finally, UMB Bank n.a. raised its stake in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 180 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Up 2.9 %

ITT stock opened at $143.58 on Wednesday. ITT Inc. has a fifty-two week low of $116.59 and a fifty-two week high of $161.13. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41. The stock’s fifty day moving average is $149.71 and its two-hundred day moving average is $142.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58.

ITT (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. The firm had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.37 EPS. Analysts predict that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Friday, November 29th. ITT’s payout ratio is 21.67%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ITT. KeyCorp boosted their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Tuesday. The Goldman Sachs Group raised their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. TD Cowen boosted their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird reduced their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.50.

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.