Teachers Retirement System of The State of Kentucky Sells 9,948 Shares of ITT Inc. (NYSE:ITT)

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of ITT Inc. (NYSE:ITT) by 26.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,126 shares of the conglomerate’s stock after selling 9,948 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in ITT were worth $3,689,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raymond James & Associates lifted its position in shares of ITT by 17.0% in the 4th quarter. Raymond James & Associates now owns 74,618 shares of the conglomerate’s stock worth $8,903,000 after purchasing an additional 10,853 shares during the period. AdvisorNet Financial Inc lifted its position in shares of ITT by 101.0% during the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after acquiring an additional 204 shares during the period. State of Michigan Retirement System lifted its position in shares of ITT by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 19,729 shares of the conglomerate’s stock valued at $2,354,000 after acquiring an additional 100 shares during the period. Trust Point Inc. acquired a new position in shares of ITT during the 4th quarter valued at $283,000. Finally, International Assets Investment Management LLC acquired a new position in shares of ITT during the 4th quarter valued at $157,000. 91.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price 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 target price 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. Citigroup boosted their price target on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, April 8th. TD Cowen boosted their price target on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, KeyCorp boosted their price target on shares of ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $145.50.

ITT Stock Down 6.8 %

Shares of NYSE ITT traded down $9.49 during trading on Friday, hitting $129.73. The stock had a trading volume of 568,954 shares, compared to its average volume of 406,465. ITT Inc. has a 12 month low of $91.94 and a 12 month high of $149.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.08. The company has a market capitalization of $10.68 billion, a PE ratio of 25.45, a PEG ratio of 1.81 and a beta of 1.41. The firm has a fifty day moving average of $132.30 and a two-hundred day moving average of $129.81.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.03. The company had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. ITT had a net margin of 12.47% and a return on equity of 18.30%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 earnings per share. As a group, equities research analysts forecast that ITT Inc. will post 5.83 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is presently 25.10%.

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.