ITT Inc. (ITT) is Paradice Investment Management LLC’s 7th Largest Position
Paradice Investment Management LLC increased its position in shares of ITT Inc. (NYSE:ITT) by 6.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,530,734 shares of the conglomerate’s stock after buying an additional 86,900 shares during the period. ITT makes up approximately 4.9% of Paradice Investment Management LLC’s portfolio, making the stock its 7th largest position. Paradice Investment Management LLC owned approximately 1.74% of ITT worth $61,505,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Pinnacle Financial Partners Inc. bought a new position in shares of ITT during the second quarter worth about $105,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ITT by 10.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock worth $132,000 after buying an additional 314 shares in the last quarter. Timber Hill LLC bought a new position in shares of ITT during the first quarter worth about $201,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of ITT during the first quarter worth about $214,000. Finally, Stephens Inc. AR bought a new position in shares of ITT during the first quarter worth about $222,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.
ITT Inc. (NYSE:ITT) opened at 39.39 on Tuesday. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 16.87 and a beta of 1.47. The stock’s 50 day moving average is $40.76 and its 200 day moving average is $40.44. ITT Inc. has a 52-week low of $32.46 and a 52-week high of $44.00.
ITT (NYSE:ITT) last released its earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. ITT had a return on equity of 14.17% and a net margin of 8.64%. The business had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $628.65 million. During the same quarter last year, the firm posted $0.67 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Equities research analysts forecast that ITT Inc. will post $2.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be paid a dividend of $0.128 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.51 annualized dividend and a yield of 1.30%. ITT’s dividend payout ratio is currently 21.70%.
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A number of brokerages recently issued reports on ITT. Stifel Nicolaus reiterated a “buy” rating and issued a $49.00 target price on shares of ITT in a research report on Wednesday, August 16th. Zacks Investment Research upgraded shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Friday, July 28th. BidaskClub lowered shares of ITT from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Goldman Sachs Group, Inc. (The) lowered shares of ITT from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $46.00 to $43.00 in a research report on Tuesday, June 6th. Finally, ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $46.29.
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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