Stonebridge Capital Advisors LLC Lowers Stock Holdings in ITT Inc (NYSE:ITT)

Stonebridge Capital Advisors LLC trimmed its position in shares of ITT Inc (NYSE:ITT) by 18.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,533 shares of the conglomerate’s stock after selling 1,000 shares during the quarter. Stonebridge Capital Advisors LLC’s holdings in ITT were worth $297,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in ITT by 1.1% during the 2nd quarter. BlackRock Inc. now owns 7,980,310 shares of the conglomerate’s stock valued at $522,551,000 after acquiring an additional 86,769 shares during the period. FMR LLC boosted its holdings in ITT by 7.5% during the 1st quarter. FMR LLC now owns 6,606,274 shares of the conglomerate’s stock valued at $383,164,000 after acquiring an additional 458,175 shares during the period. Janus Henderson Group PLC boosted its holdings in ITT by 9.5% during the 2nd quarter. Janus Henderson Group PLC now owns 3,574,946 shares of the conglomerate’s stock valued at $234,087,000 after acquiring an additional 310,850 shares during the period. Invesco Ltd. boosted its holdings in ITT by 34.3% during the 2nd quarter. Invesco Ltd. now owns 2,235,613 shares of the conglomerate’s stock valued at $146,389,000 after acquiring an additional 570,860 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in ITT during the 2nd quarter valued at about $134,658,000. Institutional investors own 89.56% of the company’s stock.

ITT stock traded down $0.48 during mid-day trading on Tuesday, reaching $59.44. The company had a trading volume of 488,800 shares, compared to its average volume of 510,097. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The firm has a fifty day simple moving average of $57.76 and a 200 day simple moving average of $60.30. ITT Inc has a fifty-two week low of $44.89 and a fifty-two week high of $66.88.

ITT (NYSE:ITT) last posted its quarterly earnings results on Friday, August 2nd. The conglomerate reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. The company had revenue of $719.90 million for the quarter, compared to analyst estimates of $703.80 million. ITT had a return on equity of 16.68% and a net margin of 10.85%. During the same quarter last year, the company earned $0.82 EPS. Sell-side analysts predict that ITT Inc will post 3.63 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a $0.147 dividend. This represents a $0.59 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Monday, September 9th. ITT’s dividend payout ratio is currently 18.27%.

ITT has been the subject of a number of research analyst reports. ValuEngine cut ITT from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Oppenheimer set a $72.00 target price on ITT and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Wednesday, June 12th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $66.20.

ITT Profile

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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