Point72 Asset Management L.P. Has $1.09 Million Holdings in ITT Inc. (NYSE:ITT)

Point72 Asset Management L.P. trimmed its holdings in ITT Inc. (NYSE:ITT) by 93.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,296 shares of the conglomerate’s stock after selling 99,630 shares during the period. Point72 Asset Management L.P.’s holdings in ITT were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. CWM LLC grew its position in shares of ITT by 69.1% in the 2nd quarter. CWM LLC now owns 1,331 shares of the conglomerate’s stock valued at $172,000 after purchasing an additional 544 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of ITT by 3.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,313 shares of the conglomerate’s stock worth $1,074,000 after acquiring an additional 266 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of ITT by 38.7% during the second quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock worth $58,000 after acquiring an additional 118 shares during the period. Raymond James & Associates lifted its position in ITT by 1.6% in the 2nd quarter. Raymond James & Associates now owns 67,473 shares of the conglomerate’s stock valued at $8,716,000 after acquiring an additional 1,036 shares in the last quarter. Finally, Leeward Investments LLC MA boosted its stake in ITT by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 196,174 shares of the conglomerate’s stock worth $25,342,000 after purchasing an additional 10,485 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ITT shares. Citigroup upped their price objective on ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus increased their target price 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, KeyCorp lifted their price target on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.13.

ITT Stock Performance

Shares of ITT stock opened at $154.21 on Wednesday. The stock has a market cap of $12.57 billion, a P/E ratio of 26.32, a P/E/G ratio of 2.02 and a beta of 1.40. The company has a fifty day moving average price of $150.91 and a two-hundred day moving average price of $140.25. ITT Inc. has a one year low of $111.96 and a one year high of $161.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09.

ITT (NYSE:ITT) last posted its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The business had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.37 earnings per share. As a group, equities analysts predict that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, November 29th. ITT’s dividend payout ratio (DPR) is presently 21.67%.

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.