Ensign Peak Advisors Inc trimmed its position in ITT Inc. (NYSE:ITT) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,838 shares of the conglomerate’s stock after selling 1,370 shares during the quarter. Ensign Peak Advisors Inc’s holdings in ITT were worth $6,397,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of ITT. Advisory Services Network LLC purchased a new position in shares of ITT in the second quarter worth $25,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of ITT in the first quarter worth $30,000. KB Financial Partners LLC purchased a new position in shares of ITT in the first quarter worth $36,000. Van ECK Associates Corp bought a new stake in ITT in the first quarter valued at $42,000. Finally, Quadrant Capital Group LLC boosted its holdings in ITT by 43.6% in the first quarter. Quadrant Capital Group LLC now owns 649 shares of the conglomerate’s stock valued at $59,000 after acquiring an additional 197 shares in the last quarter. 91.54% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on ITT. TheStreet cut shares of ITT from a “b” rating to a “c+” rating in a report on Friday, August 6th. Oppenheimer lifted their price target on shares of ITT from $107.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, August 9th. KeyCorp boosted their target price on shares of ITT from $105.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, August 6th. William Blair restated a “market perform” rating on shares of ITT in a report on Friday, August 6th. Finally, Zacks Investment Research cut shares of ITT from a “buy” rating to a “hold” rating and set a $103.00 target price on the stock. in a report on Monday, August 9th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $103.22.
NYSE ITT opened at $88.98 on Thursday. ITT Inc. has a 52 week low of $59.23 and a 52 week high of $101.32. The firm has a market capitalization of $7.66 billion, a P/E ratio of 120.24, a PEG ratio of 1.45 and a beta of 1.59. The company has a 50-day moving average price of $92.14 and a 200-day moving average price of $93.09.
ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, August 5th. The conglomerate reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.04. ITT had a net margin of 2.41% and a return on equity of 15.86%. The firm had revenue of $691.60 million during the quarter, compared to analyst estimates of $644.43 million. As a group, analysts forecast that ITT Inc. will post 4.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 30th. Stockholders of record on Monday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.99%. ITT’s payout ratio is currently 27.50%.
ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions in the field of energy, transportation, and industrial markets. It operates through the following segments: Motion Technologies, Industrial Process, and Connect and Control Technologies. The Motion Technologies segment manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation.
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