Schwab Charles Investment Management Inc. increased its position in ITT Inc. (NYSE:ITT) by 4.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 351,402 shares of the conglomerate’s stock after buying an additional 15,761 shares during the period. Schwab Charles Investment Management Inc. owned 0.40% of ITT worth $14,415,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Advantus Capital Management Inc increased its stake in ITT by 3.0% in the first quarter. Advantus Capital Management Inc now owns 11,293 shares of the conglomerate’s stock worth $463,000 after buying an additional 332 shares during the last quarter. Teachers Advisors LLC increased its stake in ITT by 24.4% in the fourth quarter. Teachers Advisors LLC now owns 1,120,718 shares of the conglomerate’s stock worth $43,226,000 after buying an additional 219,763 shares during the last quarter. Clinton Group Inc. bought a new stake in ITT during the first quarter worth $307,000. Citadel Advisors LLC increased its stake in ITT by 63.1% in the first quarter. Citadel Advisors LLC now owns 22,886 shares of the conglomerate’s stock worth $939,000 after buying an additional 8,850 shares during the last quarter. Finally, Philadelphia Trust Co. increased its stake in ITT by 763.1% in the fourth quarter. Philadelphia Trust Co. now owns 170,816 shares of the conglomerate’s stock worth $6,588,000 after buying an additional 151,025 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.
ITT Inc. (ITT) opened at 41.33 on Monday. ITT Inc. has a 52 week low of $31.08 and a 52 week high of $44.00. The company has a market capitalization of $3.67 billion, a PE ratio of 19.05 and a beta of 1.47. The company’s 50-day moving average price is $39.29 and its 200 day moving average price is $40.48.
ITT (NYSE:ITT) last released its quarterly earnings data on Monday, May 8th. The conglomerate reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. The business had revenue of $625.80 million for the quarter, compared to analysts’ expectations of $607.08 million. ITT had a return on equity of 14.65% and a net margin of 8.04%. ITT’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. On average, equities research analysts anticipate that ITT Inc. will post $2.43 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Monday, June 12th were given a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, June 8th. ITT’s dividend payout ratio is presently 23.50%.
A number of analysts have recently weighed in on ITT shares. BidaskClub raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) downgraded shares of ITT from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $46.00 to $43.00 in a research report on Tuesday, June 6th. Stifel Nicolaus raised their price target on shares of ITT from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Finally, TheStreet raised shares of ITT from a “c+” rating to a “b” rating in a research report on Monday, March 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.67.
ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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