Quest Partners LLC Sells 16,415 Shares of ITT Inc. (NYSE:ITT)

Quest Partners LLC lowered its holdings in ITT Inc. (NYSE:ITT - Free Report) by 95.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 805 shares of the conglomerate's stock after selling 16,415 shares during the quarter. Quest Partners LLC's holdings in ITT were worth $120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITT. Thrivent Financial for Lutherans lifted its position in ITT by 30.1% during the third quarter. Thrivent Financial for Lutherans now owns 77,957 shares of the conglomerate's stock valued at $11,655,000 after purchasing an additional 18,045 shares during the period. Chesapeake Capital Corp IL boosted its stake in shares of ITT by 28.1% in the 3rd quarter. Chesapeake Capital Corp IL now owns 4,472 shares of the conglomerate's stock worth $671,000 after buying an additional 981 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of ITT by 3.7% in the third quarter. Natixis Advisors LLC now owns 70,312 shares of the conglomerate's stock worth $10,513,000 after acquiring an additional 2,486 shares during the period. Coastline Trust Co purchased a new stake in ITT during the third quarter valued at $48,000. Finally, CIBC Asset Management Inc lifted its holdings in ITT by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate's stock valued at $360,000 after acquiring an additional 87 shares during the period. 91.59% of the stock is owned by institutional investors.

ITT Price Performance

Shares of NYSE:ITT traded up $0.84 during mid-day trading on Friday, reaching $156.12. The stock had a trading volume of 138,578 shares, compared to its average volume of 383,499. The business's 50 day moving average price is $149.91 and its 200 day moving average price is $139.39. ITT Inc. has a 1 year low of $107.10 and a 1 year high of $161.13. The company has a market cap of $12.73 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $884.50 million. During the same period in the prior year, the firm earned $1.37 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts expect that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.82%. ITT's dividend payout ratio (DPR) is presently 21.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Stifel Nicolaus upped their price target on shares of ITT from $157.00 to $167.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Robert W. Baird decreased their target price 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. TD Cowen increased their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of ITT from $150.00 to $166.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, KeyCorp increased their price target on ITT from $155.00 to $164.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, ITT presently has an average rating of "Moderate Buy" and a consensus target price of $161.88.

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.