Channing Capital Management LLC Sells 29,092 Shares of ITT Inc. (NYSE:ITT)

Channing Capital Management LLC trimmed its stake in shares of ITT Inc. (NYSE:ITT) by 23.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,402 shares of the conglomerate’s stock after selling 29,092 shares during the quarter. Channing Capital Management LLC owned approximately 0.11% of ITT worth $11,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its holdings in ITT by 1.9% during the 3rd quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock worth $742,319,000 after acquiring an additional 144,394 shares during the period. Massachusetts Financial Services Co. MA grew its stake in ITT by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate’s stock worth $169,581,000 after purchasing an additional 5,495 shares during the period. Ameriprise Financial Inc. increased its holdings in ITT by 1.1% in the third quarter. Ameriprise Financial Inc. now owns 1,354,082 shares of the conglomerate’s stock worth $132,581,000 after purchasing an additional 14,857 shares in the last quarter. Invesco Ltd. lifted its stake in ITT by 46.6% in the third quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock valued at $60,130,000 after buying an additional 195,111 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of ITT by 7.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 602,444 shares of the conglomerate’s stock worth $58,985,000 after buying an additional 40,612 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Up 3.1 %

Shares of ITT stock traded up $3.82 during trading hours on Friday, reaching $128.31. The company had a trading volume of 540,258 shares, compared to its average volume of 382,581. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.24. ITT Inc. has a 12 month low of $75.82 and a 12 month high of $138.29. The business has a fifty day simple moving average of $129.45 and a 200-day simple moving average of $118.66.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. ITT had a return on equity of 18.21% and a net margin of 12.41%. The business had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $883.21 million. During the same period last year, the business earned $1.17 EPS. The business’s revenue was up 14.1% on a year-over-year basis. On average, research analysts expect that ITT Inc. will post 5.8 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Monday, June 3rd. ITT’s payout ratio is 25.10%.

Analyst Upgrades and Downgrades

ITT has been the topic of several research analyst reports. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. DA Davidson boosted their target price on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Citigroup increased their price target on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. KeyCorp boosted their price objective on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus increased their target price on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $135.57.

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.