SeaBridge Investment Advisors LLC Lowers Holdings in ITT Inc. (NYSE:ITT)

SeaBridge Investment Advisors LLC lowered its holdings in ITT Inc. (NYSE:ITT) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,157 shares of the conglomerate’s stock after selling 480 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in ITT were worth $2,594,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Eagle Asset Management Inc. purchased a new stake in ITT in the third quarter valued at approximately $67,503,000. Erste Asset Management GmbH acquired a new position in ITT during the 3rd quarter worth about $7,075,000. Polar Asset Management Partners Inc. boosted its holdings in ITT by 68.9% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate’s stock valued at $16,596,000 after acquiring an additional 45,300 shares during the period. Victory Capital Management Inc. grew its position in ITT by 15.4% in the 3rd quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate’s stock valued at $45,827,000 after acquiring an additional 40,860 shares in the last quarter. Finally, Covea Finance increased its stake in ITT by 18.7% during the third quarter. Covea Finance now owns 254,800 shares of the conglomerate’s stock worth $38,095,000 after purchasing an additional 40,200 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Trading Down 0.6 %

NYSE:ITT opened at $150.91 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. ITT Inc. has a 1 year low of $118.58 and a 1 year high of $161.13. The stock has a market cap of $12.30 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.77 and a beta of 1.41. The stock has a 50-day simple moving average of $148.78 and a 200-day simple moving average of $144.55.

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

Analyst Ratings Changes

Several research analysts have recently commented on ITT shares. Wolfe Research initiated coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. TD Cowen raised their price target on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Citigroup decreased their target price on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, KeyCorp upped their price target on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.13.

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.