Schwab Charles Investment Management Inc. decreased its stake in ITT Inc. (NYSE:ITT) by 9.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,074 shares of the conglomerate’s stock after selling 50,384 shares during the period. Schwab Charles Investment Management Inc. owned 0.53% of ITT worth $20,589,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prudential Financial Inc. grew its holdings in shares of ITT by 273.4% in the 2nd quarter. Prudential Financial Inc. now owns 203,051 shares of the conglomerate’s stock valued at $8,159,000 after acquiring an additional 148,668 shares in the last quarter. SeaBridge Investment Advisors LLC lifted its stake in ITT by 7.5% in the 3rd quarter. SeaBridge Investment Advisors LLC now owns 175,938 shares of the conglomerate’s stock valued at $7,789,000 after purchasing an additional 12,298 shares during the last quarter. Federated Investors Inc. PA lifted its stake in ITT by 27.2% in the 2nd quarter. Federated Investors Inc. PA now owns 45,280 shares of the conglomerate’s stock valued at $1,819,000 after purchasing an additional 9,672 shares during the last quarter. Twin Capital Management Inc. lifted its stake in ITT by 9.5% in the 2nd quarter. Twin Capital Management Inc. now owns 72,150 shares of the conglomerate’s stock valued at $2,899,000 after purchasing an additional 6,250 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its stake in ITT by 134.4% in the 2nd quarter. Nomura Holdings Inc. now owns 13,460 shares of the conglomerate’s stock valued at $541,000 after purchasing an additional 7,718 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

In other news, insider Denise L. Ramos sold 161,100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $50.14, for a total transaction of $8,077,554.00. Following the transaction, the insider now directly owns 283,032 shares of the company’s stock, valued at $14,191,224.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Elizabeth Gustafsson sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total transaction of $214,500.00. The disclosure for this sale can be found here. Insiders have sold 176,960 shares of company stock valued at $8,845,462 over the last 90 days. Company insiders own 1.20% of the company’s stock.

Several brokerages recently issued reports on ITT. ValuEngine downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Monday, November 20th. Seaport Global Securities reiterated a “buy” rating on shares of ITT in a research note on Monday, November 6th. KeyCorp reiterated a “buy” rating on shares of ITT in a research note on Friday, November 3rd. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $60.00 target price (up from $51.00) on shares of ITT in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $50.88.

Shares of ITT Inc. (ITT) opened at $52.54 on Monday. The stock has a market cap of $4,623.52, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 1.67 and a beta of 1.59. ITT Inc. has a 1 year low of $36.93 and a 1 year high of $54.79.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, November 2nd. The conglomerate reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The firm had revenue of $645.00 million during the quarter, compared to the consensus estimate of $605.06 million. ITT had a net margin of 8.29% and a return on equity of 14.12%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the business posted $0.58 earnings per share. equities research analysts forecast that ITT Inc. will post 2.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be given a dividend of $0.128 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.51 annualized dividend and a yield of 0.97%. ITT’s dividend payout ratio (DPR) is presently 21.89%.

TRADEMARK VIOLATION NOTICE: “Schwab Charles Investment Management Inc. Has $20.59 Million Stake in ITT Inc. (ITT)” was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://www.watchlistnews.com/schwab-charles-investment-management-inc-has-20-59-million-stake-in-itt-inc-itt/1771301.html.

ITT Company Profile

ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.

Institutional Ownership by Quarter for ITT (NYSE:ITT)

Receive News & Ratings for ITT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT and related companies with MarketBeat.com's FREE daily email newsletter.