ITT Inc. (NYSE:ITT) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. decreased its holdings in ITT Inc. (NYSE:ITT) by 17.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 92,953 shares of the conglomerate’s stock after selling 19,648 shares during the quarter. Thornburg Investment Management Inc.’s holdings in ITT were worth $11,999,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Capital International Investors raised its stake in ITT by 0.3% during the fourth quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock valued at $1,123,533,000 after buying an additional 29,057 shares in the last quarter. Vanguard Group Inc. raised its stake in ITT by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after buying an additional 65,173 shares in the last quarter. Norges Bank acquired a new stake in ITT during the fourth quarter valued at approximately $102,709,000. Bank of New York Mellon Corp raised its stake in ITT by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock valued at $106,961,000 after buying an additional 3,370 shares in the last quarter. Finally, Fiduciary Management Inc. WI raised its stake in ITT by 3.8% during the fourth quarter. Fiduciary Management Inc. WI now owns 742,571 shares of the conglomerate’s stock valued at $88,604,000 after buying an additional 27,210 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stifel Nicolaus upped their price objective on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. KeyCorp upped their target price on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, TD Cowen upped their target price on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $151.00.

ITT Stock Performance

Shares of ITT stock opened at $131.77 on Thursday. ITT Inc. has a 12-month low of $91.94 and a 12-month high of $149.65. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.40. The business has a 50 day simple moving average of $134.68 and a 200 day simple moving average of $132.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. During the same period in the prior year, the company posted $1.33 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research 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 Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is 24.90%.

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.