MetLife Investment Management LLC Decreases Stake in ITT Inc. (NYSE:ITT)

MetLife Investment Management LLC trimmed its position in shares of ITT Inc. (NYSE:ITT) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,238 shares of the conglomerate’s stock after selling 1,101 shares during the period. MetLife Investment Management LLC owned about 0.05% of ITT worth $6,315,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. purchased a new stake in ITT during the 3rd quarter worth about $67,503,000. Mawer Investment Management Ltd. purchased a new position in ITT in the second quarter valued at approximately $49,043,000. Select Equity Group L.P. increased its stake in ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after purchasing an additional 351,206 shares during the last quarter. Millennium Management LLC raised its holdings 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 purchasing an additional 262,470 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of ITT by 115.6% in the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after buying an additional 131,708 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday. KeyCorp boosted their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Stifel Nicolaus raised their price target on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen boosted their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.88.

ITT Trading Up 0.5 %

Shares of ITT stock opened at $156.12 on Friday. ITT Inc. has a twelve month low of $107.10 and a twelve month high of $161.13. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $149.91 and its two-hundred day moving average is $139.39. The company has a market capitalization of $12.73 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41.

ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same period in the previous year, the company posted $1.37 EPS. ITT’s revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 0.82%. ITT’s payout ratio is currently 21.84%.

ITT 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.