S.A. Mason LLC boosted its holdings in ITT Inc. (NYSE:ITT) by 10.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,650 shares of the conglomerate’s stock after acquiring an additional 150 shares during the period. S.A. Mason LLC’s holdings in ITT were worth $150,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of ITT. First Trust Advisors LP grew its stake in ITT by 262.9% in the 1st quarter. First Trust Advisors LP now owns 49,852 shares of the conglomerate’s stock valued at $2,891,000 after acquiring an additional 36,114 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in ITT by 5.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 96,018 shares of the conglomerate’s stock valued at $5,569,000 after purchasing an additional 4,720 shares in the last quarter. Morgan Stanley lifted its holdings in ITT by 28.7% in the 3rd quarter. Morgan Stanley now owns 42,766 shares of the conglomerate’s stock valued at $2,526,000 after purchasing an additional 9,525 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in ITT by 1.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 40,432 shares of the conglomerate’s stock valued at $2,387,000 after purchasing an additional 729 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in ITT in the 3rd quarter valued at about $366,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Orlando D. Ashford sold 3,032 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $87.47, for a total value of $265,209.04. Following the transaction, the director now owns 15,245 shares in the company, valued at $1,333,480.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.
ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 18th. The conglomerate reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.09. ITT had a net margin of 6.20% and a return on equity of 13.64%. The firm had revenue of $708.60 million for the quarter, compared to analyst estimates of $657.72 million. During the same quarter last year, the firm posted $0.99 earnings per share. ITT’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts expect that ITT Inc. will post 3.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 5th. Investors of record on Wednesday, March 17th were issued a $0.22 dividend. This is a positive change from ITT’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, March 16th. This represents a $0.88 annualized dividend and a yield of 0.95%. ITT’s dividend payout ratio (DPR) is presently 23.10%.
A number of research analysts have issued reports on the stock. Cowen upped their target price on shares of ITT from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, March 25th. Robert W. Baird upped their target price on shares of ITT from $91.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, March 1st. KeyCorp upped their target price on shares of ITT from $87.00 to $105.00 and gave the company an “overweight” rating in a report on Monday. Finally, Oppenheimer upped their target price on shares of ITT from $87.00 to $97.00 and gave the company an “outperform” rating in a report on Monday, March 29th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. ITT currently has a consensus rating of “Buy” and a consensus price target of $90.00.
ITT Company Profile
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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, light- and heavy-duty commercial and military vehicles, buses, and rail.
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