Pacer Advisors Inc. Boosts Stake in ITT Inc. (ITT)
Pacer Advisors Inc. raised its stake in shares of ITT Inc. (NYSE:ITT) by 17.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,237 shares of the conglomerate’s stock after purchasing an additional 1,810 shares during the quarter. Pacer Advisors Inc.’s holdings in ITT were worth $542,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. LaSalle Street Capital Management LLC bought a new position in shares of ITT during the 3rd quarter worth about $258,000. Macquarie Group Ltd. increased its holdings in shares of ITT by 18.5% during the 3rd quarter. Macquarie Group Ltd. now owns 2,615,074 shares of the conglomerate’s stock worth $115,769,000 after purchasing an additional 407,746 shares during the period. Quantbot Technologies LP increased its holdings in shares of ITT by 53.9% during the 3rd quarter. Quantbot Technologies LP now owns 37,795 shares of the conglomerate’s stock worth $1,673,000 after purchasing an additional 13,235 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of ITT by 5.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 620,767 shares of the conglomerate’s stock worth $27,482,000 after purchasing an additional 29,427 shares during the period. Finally, Deprince Race & Zollo Inc. increased its holdings in shares of ITT by 1.3% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 1,158,473 shares of the conglomerate’s stock worth $51,286,000 after purchasing an additional 14,921 shares during the period. Institutional investors own 92.51% of the company’s stock.
A number of research firms recently weighed in on ITT. ValuEngine cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Friday. Cowen reissued a “buy” rating and issued a $50.00 target price on shares of ITT in a research note on Thursday, September 21st. Zacks Investment Research cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Monday, November 20th. Robert W. Baird reissued an “outperform” rating and issued a $60.00 target price (up previously from $51.00) on shares of ITT in a research note on Thursday, November 2nd. Finally, Seaport Global Securities reissued a “buy” rating on shares of ITT in a research note on Monday, November 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $50.44.
ITT Inc. (NYSE:ITT) traded down $0.65 during midday trading on Friday, reaching $53.55. 495,966 shares of the company were exchanged, compared to its average volume of 586,297. The company has a market capitalization of $4,769.60, a PE ratio of 22.31, a P/E/G ratio of 1.72 and a beta of 1.58. ITT Inc. has a twelve month low of $36.93 and a twelve month high of $54.50.
ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, November 2nd. The conglomerate reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.05. The firm had revenue of $645.00 million for the quarter, compared to analyst estimates of $605.06 million. ITT had a net margin of 8.29% and a return on equity of 14.12%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 earnings per share. research analysts forecast that ITT Inc. will post 2.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be given a $0.128 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.51 dividend on an annualized basis and a yield of 0.96%. ITT’s dividend payout ratio (DPR) is presently 21.89%.
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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