ITT Inc. (ITT) Holdings Lifted by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP grew its stake in shares of ITT Inc. (NYSE:ITT) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,739,927 shares of the conglomerate’s stock after acquiring an additional 63,916 shares during the period. Dimensional Fund Advisors LP owned about 1.98% of ITT worth $69,909,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in ITT. UBS Asset Management Americas Inc. grew its holdings in ITT by 20.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 69,398 shares of the conglomerate’s stock worth $2,847,000 after acquiring an additional 11,580 shares in the last quarter. Karp Capital Management Corp acquired a new position in ITT during the 1st quarter worth $518,000. Raymond James Financial Services Advisors Inc. acquired a new position in ITT during the 1st quarter worth $214,000. Envestnet Asset Management Inc. grew its holdings in ITT by 11.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the conglomerate’s stock worth $264,000 after acquiring an additional 654 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of ITT by 38.2% in the 1st quarter. JPMorgan Chase & Co. now owns 410,347 shares of the conglomerate’s stock worth $16,833,000 after buying an additional 113,386 shares during the last quarter. 92.58% of the stock is owned by institutional investors.
Shares of ITT Inc. (ITT) opened at 45.50 on Wednesday. ITT Inc. has a 12 month low of $32.46 and a 12 month high of $46.76. The company has a market capitalization of $4.00 billion, a P/E ratio of 19.49 and a beta of 1.48. The company has a 50-day moving average of $42.25 and a 200 day moving average of $40.76.
ITT (NYSE:ITT) last posted its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. ITT had a net margin of 8.64% and a return on equity of 14.17%. The business had revenue of $630.90 million for the quarter, compared to analyst estimates of $628.65 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Analysts forecast that ITT Inc. will post $2.47 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were issued a $0.128 dividend. This represents a $0.51 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, September 8th. ITT’s payout ratio is 21.70%.
In other news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.
A number of research analysts have recently issued reports on the stock. Robert W. Baird restated a “buy” rating and issued a $51.00 price target on shares of ITT in a research report on Wednesday, October 4th. Deutsche Bank AG upgraded shares of ITT from a “hold” rating to a “buy” rating and raised their price target for the stock from $46.00 to $55.00 in a research report on Monday. Cowen and Company restated a “buy” rating and issued a $50.00 price target on shares of ITT in a research report on Thursday, September 21st. Zacks Investment Research upgraded shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Friday, July 28th. Finally, ValuEngine downgraded shares of ITT from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. ITT has an average rating of “Buy” and a consensus target price of $48.00.
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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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