Dean Investment Associates LLC Has $534,000 Position in ITT Inc. (ITT)
Dean Investment Associates LLC held its position in ITT Inc. (NYSE:ITT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,022 shares of the conglomerate’s stock at the close of the 2nd quarter. Dean Investment Associates LLC’s holdings in ITT were worth $534,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of ITT. Pinnacle Financial Partners Inc. bought a new stake in shares of ITT in the 2nd quarter worth $105,000. Riverhead Capital Management LLC boosted its stake in shares of ITT by 57.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock worth $117,000 after buying an additional 1,059 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ITT by 10.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock worth $132,000 after buying an additional 314 shares during the last quarter. Timber Hill LLC purchased a new position in shares of ITT in the 1st quarter worth $201,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of ITT in the 1st quarter worth $214,000. 93.06% of the stock is owned by institutional investors and hedge funds.
ITT Inc. (NYSE ITT) opened at 42.19 on Friday. The company’s 50-day moving average price is $40.37 and its 200 day moving average price is $40.30. The stock has a market capitalization of $3.71 billion, a P/E ratio of 18.07 and a beta of 1.46. 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $630.90 million for the quarter, compared to the consensus estimate of $628.65 million. During the same period in the prior year, the firm earned $0.67 EPS. The firm’s revenue was up .8% on a year-over-year basis. On average, equities research analysts predict that ITT Inc. will post $2.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $0.128 per share. This represents a $0.51 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, September 8th. ITT’s dividend payout ratio is currently 21.70%.
A number of research firms have recently issued reports on ITT. ValuEngine downgraded ITT from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and issued a $49.00 price target on shares of ITT in a research note on Wednesday, August 16th. BidaskClub downgraded ITT from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research downgraded ITT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Goldman Sachs Group, Inc. (The) downgraded ITT from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $46.00 to $43.00 in a research note on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. ITT presently has an average rating of “Hold” and an average target price of $46.29.
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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