Dakota Wealth Management Sells 508 Shares of ITT Inc. (NYSE:ITT)

Dakota Wealth Management reduced its holdings in shares of ITT Inc. (NYSE:ITT) by 5.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 8,985 shares of the conglomerate’s stock after selling 508 shares during the period. Dakota Wealth Management’s holdings in ITT were worth $1,343,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Eagle Bluffs Wealth Management LLC boosted its stake in shares of ITT by 0.4% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock valued at $2,457,000 after purchasing an additional 82 shares during the period. AE Wealth Management LLC lifted its holdings in ITT by 5.9% during the 2nd quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock valued at $233,000 after buying an additional 100 shares in the last quarter. Quent Capital LLC boosted its position in ITT by 53.9% in the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after buying an additional 103 shares during the period. HBK Sorce Advisory LLC grew its stake in ITT by 4.7% in the 1st quarter. HBK Sorce Advisory LLC now owns 2,306 shares of the conglomerate’s stock worth $314,000 after acquiring an additional 104 shares in the last quarter. Finally, Blue Trust Inc. increased its position 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. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of ITT stock opened at $143.78 on Friday. The stock’s 50-day moving average is $142.17 and its 200 day moving average is $135.77. ITT Inc. has a 1-year low of $91.94 and a 1-year high of $153.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The company has a market cap of $11.75 billion, a P/E ratio of 27.44, a PEG ratio of 1.92 and a beta of 1.40.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. The business had revenue of $905.90 million for the quarter, compared to analysts’ expectations of $916.38 million. ITT had a net margin of 12.47% and a return on equity of 18.30%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. Research analysts predict that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Tuesday, September 3rd. ITT’s payout ratio is presently 24.43%.

Analysts Set New Price Targets

A number of analysts recently issued reports on ITT shares. Stifel Nicolaus boosted their price target on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen increased their price target on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. KeyCorp lifted their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group upped their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT presently has a consensus rating of “Buy” and an average target price of $155.25.

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.