Hsbc Holdings PLC Has $955,000 Stock Position in ITT Inc. (NYSE:ITT)

Hsbc Holdings PLC cut its holdings in ITT Inc. (NYSE:ITT) by 47.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,683 shares of the conglomerate’s stock after selling 6,036 shares during the period. Hsbc Holdings PLC’s holdings in ITT were worth $955,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in ITT during the 4th quarter worth about $26,000. ORG Wealth Partners LLC bought a new stake in ITT during the fourth quarter worth about $30,000. Whipplewood Advisors LLC acquired a new position in ITT during the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC grew its stake in ITT by 79.1% in the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock valued at $59,000 after purchasing an additional 182 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of ITT by 291.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate’s stock worth $59,000 after purchasing an additional 309 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of NYSE ITT opened at $141.63 on Friday. The firm has a market cap of $11.47 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The business’s 50 day moving average is $131.74 and its 200-day moving average is $142.64. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $161.13.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.01. The firm had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business earned $1.42 EPS. Equities research analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.351 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.99%. ITT’s payout ratio is presently 22.26%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ITT shares. Stifel Nicolaus raised their target price on shares of ITT from $148.00 to $161.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a report on Friday, April 25th. UBS Group lifted their price target on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. KeyCorp upped their price objective on ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Citigroup cut their price objective on ITT from $181.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.86.

ITT Company 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.