Simmons Bank Sells 212 Shares of ITT Inc. (NYSE:ITT)

Simmons Bank cut its stake in shares of ITT Inc. (NYSE:ITT) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,172 shares of the conglomerate’s stock after selling 212 shares during the quarter. Simmons Bank’s holdings in ITT were worth $1,222,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ITT. Envestnet Portfolio Solutions Inc. lifted its holdings in ITT by 68.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,757 shares of the conglomerate’s stock valued at $919,000 after purchasing an additional 2,734 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of ITT by 2.0% in the 1st quarter. Sei Investments Co. now owns 79,286 shares of the conglomerate’s stock worth $10,785,000 after acquiring an additional 1,589 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of ITT by 19.5% in the 1st quarter. Russell Investments Group Ltd. now owns 54,785 shares of the conglomerate’s stock worth $7,452,000 after acquiring an additional 8,956 shares in the last quarter. US Bancorp DE grew its position in ITT by 4.9% during the 1st quarter. US Bancorp DE now owns 15,723 shares of the conglomerate’s stock worth $2,139,000 after acquiring an additional 740 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in ITT by 5.3% during the 1st quarter. Bleakley Financial Group LLC now owns 2,840 shares of the conglomerate’s stock valued at $386,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Up 0.2 %

Shares of NYSE:ITT opened at $153.62 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 1.99 and a beta of 1.41. The company has a 50 day moving average of $145.20 and a 200-day moving average of $137.54. ITT Inc. has a one year low of $104.26 and a one year high of $155.52.

ITT (NYSE:ITT) last announced its quarterly earnings data 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 firm had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.37 earnings per share. On average, sell-side analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 0.83%. ITT’s dividend payout ratio is presently 21.84%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ITT shares. Stifel Nicolaus increased their target price on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. KeyCorp increased their price objective on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. TD Cowen raised their price objective 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. Robert W. Baird reduced their target price 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. Finally, The Goldman Sachs Group raised their price target on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT currently has a consensus rating of “Buy” and a consensus price target of $157.78.

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.