Kanawha Capital Management LLC Trims Stake in ITT Inc. (NYSE:ITT)

Kanawha Capital Management LLC cut its holdings in shares of ITT Inc. (NYSE:ITT) by 15.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,765 shares of the conglomerate’s stock after selling 500 shares during the quarter. Kanawha Capital Management LLC’s holdings in ITT were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITT. Select Equity Group L.P. boosted its position in shares of ITT by 11.7% during the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after buying an additional 351,206 shares during the period. Dimensional Fund Advisors LP boosted its holdings in ITT by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock valued at $123,338,000 after acquiring an additional 50,329 shares during the period. Bank of New York Mellon Corp grew its position in ITT by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock valued at $106,961,000 after acquiring an additional 3,370 shares in the last quarter. Westfield Capital Management Co. LP grew its position in ITT by 12.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock valued at $98,434,000 after acquiring an additional 80,652 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in ITT by 73.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock worth $92,751,000 after purchasing an additional 288,671 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ITT shares. The Goldman Sachs Group lifted their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. 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. Stifel Nicolaus increased their price objective on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. KeyCorp boosted their target price on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Robert W. Baird reduced their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT currently has a consensus rating of “Buy” and a consensus target price of $157.78.

ITT Price Performance

ITT stock opened at $141.26 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.58. The stock’s 50 day moving average price is $142.94 and its 200 day moving average price is $136.34. The firm has a market cap of $11.51 billion, a P/E ratio of 24.11, a PEG ratio of 1.86 and a beta of 1.41. ITT Inc. has a 1 year low of $99.52 and a 1 year high of $153.99.

ITT (NYSE:ITT) last posted its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The firm had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. During the same quarter last year, the business posted $1.37 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts expect that ITT Inc. will post 5.82 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s payout ratio is 21.84%.

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.