Huntington National Bank Sells 71 Shares of ITT Inc. (NYSE:ITT)

Huntington National Bank lessened its holdings in shares of ITT Inc. (NYSE:ITT) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,969 shares of the conglomerate’s stock after selling 71 shares during the quarter. Huntington National Bank’s holdings in ITT were worth $294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ITT. Capital Performance Advisors LLP purchased a new stake in ITT in the third quarter valued at approximately $26,000. Lynx Investment Advisory purchased a new stake in shares of ITT during the 2nd quarter valued at $27,000. Headlands Technologies LLC bought a new stake in shares of ITT during the 2nd quarter worth $32,000. UMB Bank n.a. grew its position in ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 180 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in ITT in the second quarter worth $36,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Up 0.6 %

Shares of ITT opened at $152.60 on Friday. The firm has a fifty day simple moving average of $146.09 and a two-hundred day simple moving average of $137.84. ITT Inc. has a twelve month low of $107.01 and a twelve month high of $155.52. The stock has a market capitalization of $12.44 billion, a P/E ratio of 26.04, a PEG ratio of 1.99 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The company had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. ITT’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 EPS. On average, research analysts anticipate 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 0.84%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s payout ratio is 21.84%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. KeyCorp lifted their price target on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group boosted their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Robert W. Baird reduced their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price objective on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, TD Cowen boosted their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $161.88.

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.