Point72 Asset Management L.P. Sells 99,630 Shares of ITT Inc. (NYSE:ITT)

Point72 Asset Management L.P. lessened its position in shares of ITT Inc. (NYSE:ITT) by 93.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,296 shares of the conglomerate’s stock after selling 99,630 shares during the period. Point72 Asset Management L.P.’s holdings in ITT were worth $1,091,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ITT. Capital Performance Advisors LLP bought a new stake in ITT in the 3rd quarter valued at $26,000. Headlands Technologies LLC acquired a new stake in shares of ITT during the second quarter worth $32,000. UMB Bank n.a. grew its position in shares of ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 180 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of ITT during the second quarter worth approximately $36,000. Finally, Quent Capital LLC raised its position in shares of ITT by 53.9% in the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after buying an additional 103 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITT. StockNews.com downgraded ITT from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird decreased their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. 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. The Goldman Sachs Group increased their price objective 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. Finally, Citigroup boosted their target price on shares of ITT from $176.00 to $183.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.13.

ITT Trading Up 0.7 %

Shares of ITT stock opened at $154.21 on Wednesday. The firm has a market capitalization of $12.57 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $150.91 and its 200 day moving average is $140.25. ITT Inc. has a 1 year low of $111.96 and a 1 year high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. The company 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 company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.37 earnings per share. Equities research analysts forecast that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, November 29th. ITT’s payout ratio is 21.67%.

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.