Eads & Heald Wealth Management Sells 195 Shares of ITT Inc. (NYSE:ITT)

Eads & Heald Wealth Management trimmed its position in ITT Inc. (NYSE:ITT) by 4.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,922 shares of the conglomerate’s stock after selling 195 shares during the period. Eads & Heald Wealth Management’s holdings in ITT were worth $586,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ITT. Mawer Investment Management Ltd. bought a new stake in ITT during the 2nd quarter valued at $49,043,000. Select Equity Group L.P. increased its position in shares of ITT by 11.7% during the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after acquiring an additional 351,206 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of ITT by 73.4% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock worth $92,751,000 after acquiring an additional 288,671 shares during the last quarter. Millennium Management LLC lifted its position in ITT by 200.4% in the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after acquiring an additional 262,470 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in ITT by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after purchasing an additional 131,708 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

ITT Stock Up 0.3 %

Shares of NYSE ITT opened at $140.53 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average of $142.94 and a 200-day moving average of $136.20. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.92 and a beta of 1.40. ITT Inc. has a 12 month low of $95.53 and a 12 month high of $153.99.

ITT (NYSE:ITT) last posted its quarterly earnings data 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. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same quarter last year, the company posted $1.37 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that ITT Inc. will post 5.82 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s payout ratio is currently 21.67%.

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.