King Luther Capital Management Corp Sells 2,184 Shares of ITT Inc. (NYSE:ITT)

King Luther Capital Management Corp decreased its position in ITT Inc. (NYSE:ITT) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,224 shares of the conglomerate’s stock after selling 2,184 shares during the quarter. King Luther Capital Management Corp’s holdings in ITT were worth $8,406,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in ITT in the 3rd quarter valued at approximately $26,000. Lynx Investment Advisory bought a new position in shares of ITT during the 2nd quarter worth approximately $27,000. UMB Bank n.a. raised its holdings in shares of ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of ITT in the second quarter worth $32,000. Finally, Brown Brothers Harriman & Co. acquired a new position in ITT during the second quarter worth $36,000. 91.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

ITT Stock Performance

ITT opened at $155.46 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. ITT Inc. has a 12-month low of $107.01 and a 12-month high of $156.00. The business has a 50 day moving average of $147.82 and a 200-day moving average of $138.49. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.98 and a beta of 1.41.

ITT (NYSE:ITT) last released 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. The firm had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.37 earnings per share. On average, equities research analysts expect that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.319 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.82%. ITT’s dividend 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.