Washington Capital Management Inc. Has $680,000 Stock Holdings in ITT Inc. (NYSE:ITT)

Washington Capital Management Inc. lessened its position in ITT Inc. (NYSE:ITT) by 43.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,265 shares of the conglomerate’s stock after selling 4,000 shares during the quarter. Washington Capital Management Inc.’s holdings in ITT were worth $680,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITT. Oppenheimer Asset Management Inc. increased its position in shares of ITT by 0.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock worth $1,641,000 after purchasing an additional 81 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of ITT by 13.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate’s stock worth $107,000 after purchasing an additional 87 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of ITT by 10.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock worth $183,000 after purchasing an additional 116 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of ITT by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate’s stock worth $362,000 after purchasing an additional 125 shares in the last quarter. Finally, Quarry LP raised its stake in shares of ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Up 1.7%

ITT stock opened at $152.43 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $12.00 billion, a PE ratio of 24.19, a PEG ratio of 1.89 and a beta of 1.36. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $161.13. The business’s 50 day simple moving average is $138.31 and its 200 day simple moving average is $142.74.

ITT (NYSE:ITT) last posted its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. During the same period in the previous year, the firm earned $1.42 EPS. The firm’s revenue was up .3% compared to the same quarter last year. As a group, research analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, June 2nd. ITT’s dividend payout ratio is 22.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ITT shares. The Goldman Sachs Group upped their price objective on ITT from $160.00 to $177.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Wall Street Zen upgraded ITT from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Bank of America upped their price objective on ITT from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, May 21st. KeyCorp upped their price objective on ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Finally, Citigroup decreased their target price on ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $165.50.

About ITT

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.