M&T Bank Corp cut its stake in shares of ITT Inc. (NYSE:ITT) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,631 shares of the conglomerate’s stock after selling 16 shares during the period. M&T Bank Corp’s holdings in ITT were worth $231,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in shares of ITT by 22.0% in the first quarter. Pacer Advisors Inc. now owns 9,318 shares of the conglomerate’s stock valued at $382,000 after buying an additional 1,680 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of ITT by 11.3% in the first quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the conglomerate’s stock valued at $264,000 after buying an additional 654 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of ITT by 1.2% in the first quarter. Mason Street Advisors LLC now owns 41,667 shares of the conglomerate’s stock valued at $1,709,000 after buying an additional 502 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of ITT during the first quarter valued at approximately $214,000. Finally, 1st Global Advisors Inc. raised 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 in the last quarter. Institutional investors own 93.20% of the company’s stock.

Institutional Ownership by Quarter for ITT (NYSE:ITT)

ITT Inc. (NYSE ITT) opened at 40.49 on Tuesday. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 18.66 and a beta of 1.35. The stock’s 50 day moving average is $39.92 and its 200-day moving average is $40.61. ITT Inc. has a 12 month low of $30.06 and a 12 month high of $44.00.

ITT (NYSE:ITT) last released its quarterly earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. ITT had a return on equity of 14.65% and a net margin of 8.04%. The company had revenue of $625.80 million during the quarter, compared to analysts’ expectations of $607.08 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that ITT Inc. will post $2.42 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 12th will be paid a $0.128 dividend. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $0.51 annualized dividend and a dividend yield of 1.26%. ITT’s payout ratio is 23.50%.

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Several equities analysts have commented on the stock. BidaskClub upgraded shares of ITT from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) lowered shares of ITT from a “buy” rating to a “neutral” rating and dropped their price target for the company from $46.00 to $43.00 in a research note on Tuesday, June 6th. Stifel Nicolaus increased their price target on shares of ITT from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Finally, TheStreet upgraded shares of ITT from a “c+” rating to a “b” rating in a research note on Monday, March 27th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $46.67.

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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