Mawer Investment Management Ltd. Trims Stake in ITT Inc. (NYSE:ITT)

Mawer Investment Management Ltd. lowered its position in ITT Inc. (NYSE:ITT) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 377,952 shares of the conglomerate’s stock after selling 1,693 shares during the quarter. Mawer Investment Management Ltd. owned about 0.46% of ITT worth $56,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vident Advisory LLC grew its holdings in shares of ITT by 603.0% in the first quarter. Vident Advisory LLC now owns 34,072 shares of the conglomerate’s stock worth $4,635,000 after purchasing an additional 29,225 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of ITT by 19.5% in the first quarter. Russell Investments Group Ltd. now owns 54,785 shares of the conglomerate’s stock worth $7,452,000 after purchasing an additional 8,956 shares during the last quarter. Algert Global LLC bought a new position in shares of ITT in the second quarter worth about $1,158,000. Harbor Capital Advisors Inc. grew its holdings in shares of ITT by 242.6% in the second quarter. Harbor Capital Advisors Inc. now owns 22,407 shares of the conglomerate’s stock worth $2,895,000 after purchasing an additional 15,866 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of ITT in the first quarter worth about $1,388,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

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

ITT Price Performance

Shares of NYSE:ITT traded up $0.09 during midday trading on Monday, hitting $152.69. 1,935 shares of the stock were exchanged, compared to its average volume of 383,631. The stock has a market cap of $12.45 billion, a P/E ratio of 26.04, a PEG ratio of 1.98 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. ITT Inc. has a twelve month low of $107.01 and a twelve month high of $155.52. The company has a 50 day moving average price of $146.09 and a 200-day moving average price of $137.90.

ITT (NYSE:ITT) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. The business had revenue of $885.20 million during 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%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.37 EPS. On average, research analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s payout ratio is currently 21.84%.

About ITT

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.