PNC Financial Services Group Inc. cut its stake in ITT Inc. (NYSE:ITT) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,655 shares of the conglomerate’s stock after selling 1,542 shares during the period. PNC Financial Services Group Inc. owned 0.05% of ITT worth $1,794,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ITT. World Asset Management Inc boosted its position in ITT by 0.3% during the 1st quarter. World Asset Management Inc now owns 5,487 shares of the conglomerate’s stock valued at $225,000 after acquiring an additional 19 shares in the last quarter. United Capital Financial Advisers LLC raised its position in shares of ITT by 0.6% in the 1st quarter. United Capital Financial Advisers LLC now owns 6,600 shares of the conglomerate’s stock worth $271,000 after acquiring an additional 42 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of ITT by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,940 shares of the conglomerate’s stock worth $520,000 after acquiring an additional 56 shares in the last quarter. Stephens Inc. AR raised its position in shares of ITT by 2.4% in the 2nd quarter. Stephens Inc. AR now owns 5,532 shares of the conglomerate’s stock worth $222,000 after acquiring an additional 130 shares in the last quarter. Finally, Synovus Financial Corp raised its position in shares of ITT by 2.6% in the 2nd quarter. Synovus Financial Corp now owns 5,489 shares of the conglomerate’s stock worth $222,000 after acquiring an additional 138 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Mary Elizabeth Gustafsson sold 5,000 shares of ITT stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total transaction of $214,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

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Shares of ITT Inc. (ITT) opened at 44.83 on Wednesday. The stock has a market cap of $3.95 billion, a P/E ratio of 19.20 and a beta of 1.48. ITT Inc. has a 1-year low of $32.46 and a 1-year high of $45.00. The company has a 50 day moving average price of $41.46 and a 200 day moving average price of $40.55.

ITT (NYSE:ITT) last posted its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. ITT had a net margin of 8.64% and a return on equity of 14.17%. The business had revenue of $630.90 million during the quarter, compared to analyst estimates of $628.65 million. During the same quarter in the previous year, the business posted $0.67 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that ITT Inc. will post $2.46 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were paid a dividend of $0.128 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.14%. ITT’s dividend payout ratio is presently 21.70%.

A number of research analysts have recently commented on the company. BidaskClub cut ITT from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Cowen and Company reaffirmed a “buy” rating and issued a $50.00 price target on shares of ITT in a research note on Thursday, September 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $49.00 price target on shares of ITT in a research note on Wednesday, August 16th. Zacks Investment Research downgraded ITT from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. ITT currently has a consensus rating of “Hold” and a consensus target price of $46.75.

About ITT

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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