TD Asset Management Inc reduced its holdings in shares of ITT Inc. (NYSE:ITT – Free Report) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 130,800 shares of the conglomerate’s stock after selling 14,098 shares during the quarter. TD Asset Management Inc owned 0.15% of ITT worth $22,695,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. iSAM Funds UK Ltd bought a new stake in ITT in the third quarter valued at approximately $2,113,000. Chesapeake Capital Corp IL acquired a new position in shares of ITT in the 3rd quarter worth approximately $1,125,000. Brown Brothers Harriman & Co. lifted its position in shares of ITT by 86,878.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 267,893 shares of the conglomerate’s stock worth $47,889,000 after purchasing an additional 267,585 shares during the period. Regents Gate Capital LLP bought a new stake in shares of ITT in the 3rd quarter valued at $9,381,000. Finally, TimesSquare Capital Management LLC increased its position in shares of ITT by 10.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 226,700 shares of the conglomerate’s stock worth $39,335,000 after buying an additional 21,200 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.
ITT Price Performance
Shares of ITT opened at $191.61 on Monday. The business’s fifty day moving average is $203.28 and its 200 day moving average is $192.12. ITT Inc. has a 12-month low of $149.02 and a 12-month high of $225.26. The company has a quick ratio of 1.01, a current ratio of 1.53 and a debt-to-equity ratio of 0.71. The stock has a market cap of $17.13 billion, a P/E ratio of 33.79, a P/E/G ratio of 1.80 and a beta of 1.27.
ITT Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 8th will be issued a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, June 8th. ITT’s dividend payout ratio is currently 27.16%.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Robert W. Baird set a $246.00 price target on ITT in a report on Thursday, May 7th. BMO Capital Markets started coverage on ITT in a report on Friday, March 27th. They issued an “outperform” rating and a $233.00 target price for the company. Wall Street Zen cut ITT from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. KeyCorp raised their price objective on shares of ITT from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group assumed coverage on shares of ITT in a research note on Tuesday, March 31st. They issued a “buy” rating and a $270.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $234.91.
Check Out Our Latest Analysis on ITT
Insider Transactions at ITT
In other news, insider Lori B. Marino sold 7,123 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $208.27, for a total value of $1,483,507.21. Following the transaction, the insider owned 8,729 shares in the company, valued at $1,817,988.83. This trade represents a 44.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mesa Graziano Cheryl De sold 200 shares of ITT stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the transaction, the chief accounting officer directly owned 7,859 shares in the company, valued at approximately $1,637,894.19. The trade was a 2.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is currently owned by insiders.
ITT Profile
ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.
The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.
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