Principal Financial Group Inc. Sells 84,821 Shares of ITT Inc. (NYSE:ITT)

Principal Financial Group Inc. decreased its position in ITT Inc. (NYSE:ITT - Free Report) by 30.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 189,251 shares of the conglomerate's stock after selling 84,821 shares during the period. Principal Financial Group Inc. owned about 0.23% of ITT worth $28,295,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ITT. Radnor Capital Management LLC increased its holdings in shares of ITT by 6.6% during the 3rd quarter. Radnor Capital Management LLC now owns 3,243 shares of the conglomerate's stock worth $485,000 after buying an additional 200 shares during the last quarter. Marks Group Wealth Management Inc boosted its holdings in ITT by 1.5% in the third quarter. Marks Group Wealth Management Inc now owns 64,094 shares of the conglomerate's stock worth $9,583,000 after purchasing an additional 917 shares during the period. Rational Advisors LLC acquired a new position in ITT in the third quarter worth $2,572,000. Van ECK Associates Corp boosted its holdings in ITT by 40.0% in the third quarter. Van ECK Associates Corp now owns 51,996 shares of the conglomerate's stock worth $7,513,000 after purchasing an additional 14,857 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in ITT by 108.4% in the third quarter. Harbor Capital Advisors Inc. now owns 46,689 shares of the conglomerate's stock worth $6,980,000 after purchasing an additional 24,282 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITT has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on ITT from $150.00 to $166.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. TD Cowen raised their target price on ITT from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their target price on ITT from $157.00 to $167.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. KeyCorp lifted their price objective on shares of ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Finally, Robert W. Baird cut their price objective on shares of ITT from $165.00 to $163.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ITT has a consensus rating of "Buy" and an average price target of $157.78.

ITT Price Performance

ITT stock traded up $0.66 during midday trading on Wednesday, hitting $153.95. The company's stock had a trading volume of 366,611 shares, compared to its average volume of 384,869. 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 stock's 50-day moving average price is $144.78 and its 200-day moving average price is $137.43. ITT Inc. has a 12 month low of $104.26 and a 12 month high of $155.52. The company has a market capitalization of $12.55 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.99 and a beta of 1.41.

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

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, November 29th. ITT's dividend payout ratio is 21.84%.

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.