Principal Financial Group Inc. Has $28.30 Million Holdings in ITT Inc. (NYSE:ITT)

Principal Financial Group Inc. cut its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 30.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 189,251 shares of the conglomerate's stock after selling 84,821 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of ITT worth $28,295,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Select Equity Group L.P. grew its position in ITT by 11.7% during the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate's stock worth $431,512,000 after acquiring an additional 351,206 shares during the last quarter. State Street Corp grew its holdings in shares of ITT by 1.1% during the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate's stock worth $364,457,000 after purchasing an additional 26,133 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of ITT by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate's stock worth $204,736,000 after purchasing an additional 8,223 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of ITT by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate's stock valued at $123,338,000 after buying an additional 50,329 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of ITT by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate's stock valued at $106,961,000 after buying an additional 3,370 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Ratings Changes

ITT has been the subject of several research reports. KeyCorp raised their price objective on shares of ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday. Wolfe Research assumed coverage on shares of ITT in a research report on Wednesday, December 11th. They set a "peer perform" rating on the stock. Robert W. Baird lowered their price target on shares of ITT from $165.00 to $163.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus increased their price objective on shares of 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $166.75.

ITT Trading Up 1.0 %

NYSE:ITT traded up $1.43 during trading hours on Wednesday, hitting $144.30. The stock had a trading volume of 85,980 shares, compared to its average volume of 380,522. The business's 50 day moving average is $150.29 and its 200-day moving average is $141.44. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 1.99 and a beta of 1.40. ITT Inc. has a one year low of $113.70 and a one year high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.03. The business had revenue of $885.20 million during the quarter, compared to analysts' expectations of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS. Sell-side analysts anticipate that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. 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 dividend payout ratio (DPR) is presently 21.67%.

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.