70,102 ITT Inc. $ITT Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lessened its stake in ITT Inc. (NYSE:ITT) by 16.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 352,771 shares of the conglomerate’s stock after selling 70,102 shares during the period. Mawer Investment Management Ltd.’s holdings in ITT were worth $71,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Everhart Financial Group Inc. raised its position in shares of ITT by 0.8% during the third quarter. Everhart Financial Group Inc. now owns 8,589 shares of the conglomerate’s stock worth $1,733,000 after acquiring an additional 66 shares during the last quarter. Essential Partners LLC lifted its stake in shares of ITT by 9.4% in the first quarter. Essential Partners LLC now owns 1,052 shares of the conglomerate’s stock worth $200,000 after acquiring an additional 90 shares during the period. Eurizon Capital SGR S.p.A. lifted its stake in shares of ITT by 9.9% in the third quarter. Eurizon Capital SGR S.p.A. now owns 1,142 shares of the conglomerate’s stock worth $234,000 after acquiring an additional 103 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of ITT by 7.3% in the third quarter. Farther Finance Advisors LLC now owns 1,691 shares of the conglomerate’s stock worth $341,000 after acquiring an additional 115 shares during the period. Finally, Greenline Wealth Management LLC boosted its holdings in ITT by 12.8% in the first quarter. Greenline Wealth Management LLC now owns 1,121 shares of the conglomerate’s stock valued at $214,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ITT. Citigroup decreased their target price on shares of ITT from $267.00 to $251.00 and set a “buy” rating for the company in a research report on Friday, November 6th. DA Davidson raised their price target on shares of ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Wolfe Research began coverage on shares of ITT in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $272.00 price target on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $273.00 price objective on shares of ITT in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded shares of ITT from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, November 9th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $258.78.

ITT Stock Down 1.6%

Shares of ITT stock traded down $3.48 on Friday, reaching $211.11. 713,022 shares of the company were exchanged, compared to its average volume of 933,253. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.29 and a quick ratio of 0.85. The company has a 50-day moving average of $202.59 and a 200-day moving average of $200.12. The company has a market cap of $18.83 billion, a price-to-earnings ratio of 43.44, a PEG ratio of 1.52 and a beta of 1.25. ITT Inc. has a one year low of $166.96 and a one year high of $230.32.

ITT (NYSE:ITT) last issued its earnings results on Wednesday, November 4th. The conglomerate reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.18. ITT had a return on equity of 15.47% and a net margin of 8.07%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company posted $1.78 EPS. The firm’s revenue was up 44.2% compared to the same quarter last year. Analysts anticipate that ITT Inc. will post 8.60 earnings per share for the current year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be issued a dividend of $0.3860 per share. The ex-dividend date is Friday, December 4th. This represents a $1.54 annualized dividend and a dividend yield of 0.7%. ITT’s payout ratio is currently 31.69%.

Insider Activity at ITT

In other ITT news, CEO Luca Savi bought 5,019 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was bought at an average cost of $199.56 per share, with a total value of $1,001,591.64. Following the completion of the transaction, the chief executive officer directly owned 267,373 shares in the company, valued at approximately $53,356,955.88. The trade was a 1.91% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Graziano De sold 500 shares of the company’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $214.01, for a total transaction of $107,005.00. Following the completion of the sale, the chief accounting officer owned 6,659 shares in the company, valued at $1,425,092.59. This represents a 6.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.88% of the company’s stock.

ITT Profile

ITT Inc. is a global manufacturer of engineered components and technology serving industrial, transportation, aerospace and defense, and energy markets. Its products include pumps and valves, brake pads and shock absorbers, and specialized connectors and control components. The company operates through three main businesses: Motion Technologies, Industrial Process, and Connect & Control Technologies. These businesses provide products and services used in applications ranging from automotive braking systems and industrial fluid handling to aerospace equipment and energy infrastructure.