Rathbone Brothers plc lessened its stake in shares of ITT Inc. (NYSE:ITT) by 2.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,250 shares of the conglomerate’s stock after selling 400 shares during the period. Rathbone Brothers plc’s holdings in ITT were worth $613,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. LSV Asset Management increased its holdings in ITT by 57.1% during the second quarter. LSV Asset Management now owns 1,614,577 shares of the conglomerate’s stock worth $64,873,000 after buying an additional 587,000 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in shares of ITT by 2.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 15,555 shares of the conglomerate’s stock valued at $497,000 after acquiring an additional 355 shares during the period. Synovus Financial Corp raised its stake in ITT by 2.6% in the second quarter. Synovus Financial Corp now owns 5,489 shares of the conglomerate’s stock valued at $222,000 after purchasing an additional 138 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in ITT by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,940 shares of the conglomerate’s stock valued at $520,000 after purchasing an additional 56 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in ITT by 24.2% in the second quarter. JPMorgan Chase & Co. now owns 509,682 shares of the conglomerate’s stock valued at $20,480,000 after purchasing an additional 99,335 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.
Several research firms have commented on ITT. Cowen and Company reissued a “buy” rating and set a $50.00 price target on shares of ITT in a research note on Thursday. BidaskClub cut shares of ITT from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. ValuEngine lowered ITT from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Goldman Sachs Group, Inc. (The) lowered ITT from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $46.00 to $43.00 in a research report on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $46.75.
ITT Inc. (NYSE:ITT) opened at 44.43 on Friday. The firm has a 50-day moving average price of $40.49 and a 200 day moving average price of $40.30. The company has a market capitalization of $3.91 billion, a P/E ratio of 19.03 and a beta of 1.46. ITT Inc. has a 1-year low of $32.46 and a 1-year high of $44.57.
ITT (NYSE:ITT) last issued its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The firm had revenue of $630.90 million for the quarter, compared to analyst estimates of $628.65 million. ITT had a return on equity of 14.17% and a net margin of 8.64%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. On average, equities analysts predict that ITT Inc. will post $2.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a $0.128 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.51 annualized dividend and a dividend yield of 1.15%. ITT’s dividend payout ratio is presently 21.70%.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total transaction of $214,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.
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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