Franklin Resources Inc. Sells 12,064 Shares of ITT Inc. (NYSE:ITT)

Franklin Resources Inc. lowered its holdings in ITT Inc. (NYSE:ITT - Free Report) by 41.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,744 shares of the conglomerate's stock after selling 12,064 shares during the period. Franklin Resources Inc.'s holdings in ITT were worth $2,570,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of ITT during the 3rd quarter worth approximately $26,000. Resources Management Corp CT ADV acquired a new position in ITT during the third quarter worth $30,000. UMB Bank n.a. lifted its stake in ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate's stock valued at $35,000 after acquiring an additional 180 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of ITT in the 2nd quarter valued at about $32,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of ITT in the 2nd quarter valued at about $36,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITT has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of ITT in a report on Wednesday, December 11th. They issued a "peer perform" rating on the stock. KeyCorp upped their price objective on ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Citigroup lifted their target price on ITT from $176.00 to $183.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, Stifel Nicolaus raised their price target on ITT from $171.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $166.75.

ITT Stock Performance

Shares of ITT traded up $0.21 during mid-day trading on Thursday, hitting $144.51. 162,122 shares of the company's stock were exchanged, compared to its average volume of 379,644. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 1.99 and a beta of 1.40. The stock's 50-day simple moving average is $150.19 and its 200-day simple moving average is $141.46. ITT Inc. has a 52 week low of $113.70 and a 52 week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. The firm had revenue of $885.20 million during the quarter, compared to analysts' expectations of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 EPS. On average, equities research analysts expect that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, November 29th. ITT's payout ratio is presently 21.67%.

ITT Company 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.