GABELLI & Co INVESTMENT ADVISERS INC. Sells 1,300 Shares of ITT Inc. (NYSE:ITT)

GABELLI & Co INVESTMENT ADVISERS INC. cut its position in shares of ITT Inc. (NYSE:ITT) by 46.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,500 shares of the conglomerate’s stock after selling 1,300 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in ITT were worth $204,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital International Sarl grew its holdings in shares of ITT by 5.6% during the 1st quarter. Capital International Sarl now owns 48,748 shares of the conglomerate’s stock valued at $6,631,000 after purchasing an additional 2,565 shares during the last quarter. Capital International Ltd. CA increased its holdings in shares of ITT by 3.6% in the first quarter. Capital International Ltd. CA now owns 24,548 shares of the conglomerate’s stock worth $3,339,000 after buying an additional 848 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of ITT in the 1st quarter valued at about $241,000. Vident Advisory LLC boosted its holdings in ITT by 603.0% during the 1st quarter. Vident Advisory LLC now owns 34,072 shares of the conglomerate’s stock valued at $4,635,000 after acquiring an additional 29,225 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in ITT by 1.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 51,684 shares of the conglomerate’s stock worth $7,028,000 after acquiring an additional 859 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Trading Up 1.4 %

Shares of NYSE ITT traded up $1.94 during midday trading on Friday, hitting $140.69. 392,303 shares of the company traded hands, compared to its average volume of 372,121. ITT Inc. has a 12-month low of $91.94 and a 12-month high of $144.03. The firm has a market cap of $11.58 billion, a P/E ratio of 27.59, a P/E/G ratio of 1.80 and a beta of 1.41. The stock has a 50-day moving average price of $132.29 and a 200 day moving average price of $129.16. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59.

ITT (NYSE:ITT) last announced its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.17 EPS. As a group, analysts expect that ITT Inc. will post 5.85 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Monday, June 3rd. ITT’s dividend payout ratio (DPR) is presently 25.10%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. KeyCorp increased their price objective on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Stifel Nicolaus increased their price target on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. UBS Group boosted their price objective on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. TD Cowen increased their target price on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Citigroup boosted their price target on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a report on Monday, April 8th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $144.88.

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.