Northern Trust Corp Sells 12,902 Shares of ITT Inc. (ITT)
Northern Trust Corp decreased its holdings in ITT Inc. (NYSE:ITT) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 758,175 shares of the conglomerate’s stock after selling 12,902 shares during the period. Northern Trust Corp owned 0.86% of ITT worth $30,464,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of ITT by 6.1% in the first quarter. Vanguard Group Inc. now owns 7,940,146 shares of the conglomerate’s stock worth $325,705,000 after purchasing an additional 454,454 shares in the last quarter. BlackRock Inc. increased its stake in shares of ITT by 10,370.9% in the first quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock worth $298,717,000 after purchasing an additional 7,212,684 shares in the last quarter. Janus Capital Management LLC increased its stake in shares of ITT by 4.8% in the first quarter. Janus Capital Management LLC now owns 2,827,936 shares of the conglomerate’s stock worth $116,002,000 after purchasing an additional 130,595 shares in the last quarter. FMR LLC increased its stake in shares of ITT by 6.7% in the first quarter. FMR LLC now owns 2,524,190 shares of the conglomerate’s stock worth $103,542,000 after purchasing an additional 159,163 shares in the last quarter. Finally, State Street Corp increased its stake in shares of ITT by 1.2% in the first quarter. State Street Corp now owns 2,304,207 shares of the conglomerate’s stock worth $94,518,000 after purchasing an additional 26,345 shares in the last quarter. Hedge funds and other institutional investors own 92.58% of the company’s stock.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total transaction of $214,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.
ITT has been the subject of several recent research reports. BidaskClub upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. 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. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stifel Nicolaus restated a “buy” rating and issued a $49.00 price objective on shares of ITT in a research report on Wednesday, August 16th. Finally, Robert W. Baird restated a “buy” rating and issued a $51.00 price objective on shares of ITT in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $48.50.
ITT Inc. (NYSE ITT) opened at 46.82 on Thursday. ITT Inc. has a 52-week low of $32.46 and a 52-week high of $47.15. The stock has a 50 day moving average of $43.43 and a 200-day moving average of $41.02. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 20.05 and a beta of 1.48.
ITT (NYSE:ITT) last released its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company had revenue of $630.90 million during the quarter, compared to analyst estimates of $628.65 million. ITT had a net margin of 8.64% and a return on equity of 14.17%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. On average, equities research analysts anticipate that ITT Inc. will post $2.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be issued a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, December 7th. ITT’s dividend payout ratio (DPR) is currently 21.70%.
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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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