Eads & Heald Wealth Management Decreases Stock Holdings in ITT Inc. (NYSE:ITT)

Eads & Heald Wealth Management reduced its position in shares of ITT Inc. (NYSE:ITT) by 4.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,922 shares of the conglomerate’s stock after selling 195 shares during the quarter. Eads & Heald Wealth Management’s holdings in ITT were worth $586,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ITT. Mawer Investment Management Ltd. purchased a new stake in shares of ITT during the second quarter worth about $49,043,000. Select Equity Group L.P. increased its holdings in ITT by 11.7% during the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after purchasing an additional 351,206 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in ITT by 73.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock valued at $92,751,000 after purchasing an additional 288,671 shares during the last quarter. Millennium Management LLC lifted its holdings in ITT by 200.4% in the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after buying an additional 262,470 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in ITT by 115.6% in the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after buying an additional 131,708 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $140.53 on Friday. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 1.92 and a beta of 1.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.58. ITT Inc. has a one year low of $95.53 and a one year high of $153.99. The company’s 50-day moving average is $142.94 and its 200 day moving average is $136.20.

ITT (NYSE:ITT) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. The firm had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.37 earnings per share. Sell-side analysts expect that ITT Inc. will post 5.82 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s payout ratio is presently 21.67%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ITT shares. TD Cowen lifted their price target on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group raised their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. KeyCorp boosted their price target on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Stifel Nicolaus raised their price objective on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Robert W. Baird cut their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $157.78.

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.