Victory Capital Management Inc. decreased its stake in shares of ITT Inc. (NYSE:ITT) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 976,483 shares of the conglomerate’s stock after selling 62,729 shares during the period. Victory Capital Management Inc. owned approximately 1.11% of ITT worth $39,235,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ITT. World Asset Management Inc increased its position in shares of ITT by 0.3% in the first quarter. World Asset Management Inc now owns 5,487 shares of the conglomerate’s stock valued at $225,000 after buying an additional 19 shares during the last quarter. United Capital Financial Advisers LLC increased its position in shares of ITT by 0.6% in the first quarter. United Capital Financial Advisers LLC now owns 6,600 shares of the conglomerate’s stock valued at $271,000 after buying an additional 42 shares during the last quarter. 1st Global Advisors Inc. increased its position in shares of ITT by 3.1% in the first quarter. 1st Global Advisors Inc. now owns 6,830 shares of the conglomerate’s stock valued at $280,000 after buying an additional 206 shares during the last quarter. BB&T Corp increased its position in shares of ITT by 0.8% in the first quarter. BB&T Corp now owns 27,721 shares of the conglomerate’s stock valued at $1,138,000 after buying an additional 218 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of ITT by 3.6% in the second quarter. Teacher Retirement System of Texas now owns 7,197 shares of the conglomerate’s stock valued at $289,000 after buying an additional 249 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

ITT Inc. (ITT) opened at 40.11 on Thursday. The stock has a 50 day moving average of $40.76 and a 200-day moving average of $40.44. The stock has a market cap of $3.53 billion, a P/E ratio of 17.18 and a beta of 1.47. ITT Inc. has a 52 week low of $32.46 and a 52 week high of $44.00.

ITT (NYSE:ITT) last released its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. ITT had a return on equity of 14.17% and a net margin of 8.64%. The firm had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $628.65 million. During the same quarter in the previous year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Analysts forecast that ITT Inc. will post $2.46 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, September 8th. ITT’s dividend payout ratio is presently 21.70%.

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ITT has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of ITT from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. BidaskClub downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Goldman Sachs Group, Inc. (The) downgraded shares of ITT from a “buy” rating to a “neutral” rating and cut their price target for the stock from $46.00 to $43.00 in a research note on Tuesday, June 6th. Finally, ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. ITT has a consensus rating of “Buy” and a consensus target price of $46.29.

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.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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