BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Stock Position in ITT Inc. $ITT

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its stake in shares of ITT Inc. (NYSE:ITT) by 28.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 438,677 shares of the conglomerate’s stock after selling 172,398 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.56% of ITT worth $56,657,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ITT. Quarry LP increased its holdings in shares of ITT by 101.6% during the fourth quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 125 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in ITT during the 4th quarter valued at about $59,000. Versant Capital Management Inc raised its holdings in ITT by 3,513.3% in the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate’s stock worth $70,000 after buying an additional 527 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of ITT by 13.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate’s stock worth $107,000 after buying an additional 87 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of ITT by 72.7% during the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate’s stock valued at $103,000 after buying an additional 331 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Trading Down 1.3%

ITT stock opened at $165.30 on Monday. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $171.57. The company has a market cap of $12.89 billion, a P/E ratio of 25.99, a P/E/G ratio of 2.04 and a beta of 1.38. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The business has a 50-day simple moving average of $159.03 and a two-hundred day simple moving average of $146.18.

ITT (NYSE:ITT) last announced its earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.02. The business had revenue of $972.40 million during the quarter, compared to analysts’ expectations of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.49 earnings per share. Analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be paid a $0.351 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. ITT’s dividend payout ratio (DPR) is 22.01%.

Insider Activity at ITT

In related news, CEO Luca Savi sold 36,385 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the completion of the transaction, the chief executive officer directly owned 297,536 shares in the company, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of ITT from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Stifel Nicolaus boosted their price target on ITT from $197.00 to $202.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. KeyCorp increased their price objective on ITT from $180.00 to $192.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Bank of America boosted their target price on ITT from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Finally, DA Davidson set a $190.00 target price on shares of ITT and gave the company a “buy” rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.22.

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.