Stonebridge Capital Advisors LLC Trims Holdings in ITT Inc. (NYSE:ITT)

Stonebridge Capital Advisors LLC lessened its holdings in shares of ITT Inc. (NYSE:ITT) by 15.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,518 shares of the conglomerate’s stock after selling 274 shares during the period. Stonebridge Capital Advisors LLC’s holdings in ITT were worth $206,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC increased its holdings in ITT by 788.5% during the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 205 shares during the period. AdvisorNet Financial Inc boosted its position in ITT by 101.0% during the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after acquiring an additional 204 shares in the last quarter. Tradewinds Capital Management LLC bought a new stake in ITT during the 1st quarter valued at approximately $68,000. Bfsg LLC bought a new stake in ITT during the 4th quarter valued at approximately $73,000. Finally, YHB Investment Advisors Inc. bought a new stake in ITT during the 1st quarter valued at approximately $76,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group lifted their price objective on ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Citigroup lifted their price objective on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted their price objective on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. KeyCorp lifted their price objective on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, TD Cowen lifted their price objective on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT presently has an average rating of “Buy” and a consensus price target of $144.88.

ITT Stock Up 1.4 %

Shares of ITT traded up $1.94 during mid-day trading on Friday, reaching $140.69. The company had a trading volume of 392,303 shares, compared to its average volume of 372,121. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59. The firm has a 50-day moving average price of $132.29 and a 200 day moving average price of $129.07. ITT Inc. has a 52 week low of $91.94 and a 52 week high of $144.03. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ITT had a return on equity of 18.21% and a net margin of 12.41%. The firm had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $883.21 million. During the same period in the previous year, the firm posted $1.17 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, sell-side analysts forecast that ITT Inc. will post 5.85 EPS for the current year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.319 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.91%. ITT’s dividend payout ratio is currently 25.10%.

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.