ITT Inc. (ITT) Stake Raised by Stevens Capital Management LP
Stevens Capital Management LP lifted its position in shares of ITT Inc. (NYSE:ITT) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,408 shares of the conglomerate’s stock after buying an additional 752 shares during the quarter. Stevens Capital Management LP owned about 0.09% of ITT worth $3,191,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinnacle Financial Partners Inc. acquired a new stake in shares of ITT during the second quarter worth $105,000. Riverhead Capital Management LLC increased its position in shares of ITT by 57.0% during the second 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 period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ITT by 10.6% during 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 during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of ITT during the first quarter worth $214,000. Finally, Stephens Inc. AR acquired a new stake in shares of ITT during the first quarter worth $222,000. Institutional investors own 92.59% of the company’s stock.
ITT Inc. (NYSE:ITT) opened at 43.20 on Wednesday. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 18.50 and a beta of 1.46. ITT Inc. has a 52 week low of $32.46 and a 52 week high of $44.00. The company’s 50-day moving average is $40.49 and its 200 day moving average is $40.30.
ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. The business had revenue of $630.90 million for the quarter, compared to the consensus estimate of $628.65 million. ITT had a net margin of 8.64% and a return on equity of 14.17%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 EPS. On average, analysts forecast that ITT Inc. will post $2.46 EPS for the current fiscal year.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, September 8th. ITT’s payout ratio is currently 21.70%.
ITT has been the subject of several recent analyst reports. 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 Tuesday, July 18th. BidaskClub upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stifel Nicolaus reiterated a “buy” rating and set a $49.00 price objective on shares of ITT in a research report on Wednesday, August 16th. Finally, Goldman Sachs Group, Inc. (The) cut shares of ITT from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $46.00 to $43.00 in a research report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus 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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