Huntington National Bank Lowers Position in ITT Inc. (NYSE:ITT)

Huntington National Bank lowered its position in ITT Inc. (NYSE:ITT) by 3.5% in the 3rd quarter, Holdings Channel reports. The fund owned 1,969 shares of the conglomerate’s stock after selling 71 shares during the quarter. Huntington National Bank’s holdings in ITT were worth $294,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mawer Investment Management Ltd. purchased a new position in ITT during the second quarter valued at $49,043,000. Select Equity Group L.P. increased its stake in shares of ITT by 11.7% in the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after acquiring an additional 351,206 shares in the last quarter. Millennium Management LLC boosted its stake in ITT by 200.4% during the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after acquiring an additional 262,470 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after purchasing an additional 131,708 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of ITT in the 2nd quarter worth approximately $9,936,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

ITT Stock Up 0.6 %

Shares of ITT stock opened at $152.60 on Friday. ITT Inc. has a twelve month low of $107.01 and a twelve month high of $155.52. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $146.09 and its 200 day moving average is $137.84. The company has a market cap of $12.44 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 1.99 and a beta of 1.41.

ITT (NYSE:ITT) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 17.98% and a net margin of 13.67%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 EPS. Research analysts anticipate that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, November 29th. ITT’s payout ratio is 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.