Retirement Systems of Alabama Trims Holdings in ITT Inc. (NYSE:ITT)

Retirement Systems of Alabama trimmed its holdings in ITT Inc. (NYSE:ITT) by 4.5% in the 3rd quarter, Holdings Channel reports. The fund owned 193,916 shares of the conglomerate’s stock after selling 9,127 shares during the quarter. Retirement Systems of Alabama’s holdings in ITT were worth $28,992,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ITT. Algert Global LLC purchased a new stake in ITT in the second quarter worth about $1,158,000. Eagle Asset Management Inc. bought a new stake in shares of ITT in the 3rd quarter worth approximately $67,503,000. AQR Capital Management LLC grew its stake in shares of 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 last quarter. Allspring Global Investments Holdings LLC increased its position in ITT by 46.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock valued at $14,263,000 after buying an additional 30,320 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in ITT by 16,832.5% during the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock valued at $2,101,000 after buying an additional 13,971 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ITT shares. Robert W. Baird reduced their price target on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. KeyCorp increased their price objective 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. The Goldman Sachs Group lifted their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen increased 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, October 31st. Finally, Wolfe Research started coverage on shares of ITT in a report on Wednesday. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and an average price target of $166.75.

ITT Price Performance

Shares of ITT opened at $150.68 on Friday. The firm has a fifty day simple moving average of $151.18 and a two-hundred day simple moving average of $140.52. The firm has a market cap of $12.28 billion, a PE ratio of 25.71, a P/E/G ratio of 1.99 and a beta of 1.40. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. ITT Inc. has a 1-year low of $113.70 and a 1-year high of $161.13.

ITT (NYSE:ITT) last posted its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The company 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 earnings per share. On average, equities analysts anticipate that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s payout ratio is 21.67%.

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.