Curi RMB Capital LLC Sells 22,589 Shares of ITT Inc. (NYSE:ITT)

Curi RMB Capital LLC trimmed its position in ITT Inc. (NYSE:ITT) by 40.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,551 shares of the conglomerate’s stock after selling 22,589 shares during the quarter. Curi RMB Capital LLC’s holdings in ITT were worth $5,016,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. KBC Group NV grew its stake in shares of ITT by 11.9% in the third quarter. KBC Group NV now owns 2,015 shares of the conglomerate’s stock valued at $301,000 after acquiring an additional 215 shares in the last quarter. Pier 88 Investment Partners LLC boosted its holdings in ITT by 268.1% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock valued at $4,161,000 after purchasing an additional 20,270 shares during the period. Victory Capital Management Inc. increased its holdings in shares of ITT by 15.4% during the third quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate’s stock worth $45,827,000 after purchasing an additional 40,860 shares during the period. Aigen Investment Management LP acquired a new stake in shares of ITT in the third quarter valued at approximately $328,000. Finally, Entropy Technologies LP grew its position in ITT by 83.7% during the third quarter. Entropy Technologies LP now owns 14,489 shares of the conglomerate’s stock worth $2,166,000 after buying an additional 6,600 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ITT shares. Stifel Nicolaus upped their target price on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. KeyCorp upped their price objective on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group raised their target price 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 target price 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. Finally, 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. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $157.78.

ITT Price Performance

ITT stock opened at $151.75 on Friday. The company has a market capitalization of $12.37 billion, a PE ratio of 25.90, a P/E/G ratio of 1.99 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. The stock has a 50-day moving average price of $145.62 and a two-hundred day moving average price of $137.64. ITT Inc. has a 12 month low of $107.00 and a 12 month high of $155.52.

ITT (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same period last year, the company earned $1.37 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. Analysts expect that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

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