Chartwell Investment Partners LLC Sells 14,397 Shares of ITT Inc (ITT)
Chartwell Investment Partners LLC trimmed its holdings in shares of ITT Inc (NYSE:ITT) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 509,425 shares of the conglomerate’s stock after selling 14,397 shares during the quarter. ITT comprises about 0.9% of Chartwell Investment Partners LLC’s holdings, making the stock its 9th largest position. Chartwell Investment Partners LLC owned 0.58% of ITT worth $31,207,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of ITT by 1.3% in the 2nd quarter. BlackRock Inc. now owns 7,747,776 shares of the conglomerate’s stock worth $404,973,000 after purchasing an additional 100,364 shares in the last quarter. FMR LLC boosted its holdings in shares of ITT by 17.4% in the 2nd quarter. FMR LLC now owns 6,671,943 shares of the conglomerate’s stock worth $348,743,000 after purchasing an additional 987,111 shares in the last quarter. LSV Asset Management boosted its holdings in shares of ITT by 0.6% in the 2nd quarter. LSV Asset Management now owns 1,848,370 shares of the conglomerate’s stock worth $96,614,000 after purchasing an additional 10,200 shares in the last quarter. Paradice Investment Management LLC boosted its holdings in shares of ITT by 5.7% in the 2nd quarter. Paradice Investment Management LLC now owns 1,761,034 shares of the conglomerate’s stock worth $92,049,000 after purchasing an additional 95,191 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of ITT by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,625,729 shares of the conglomerate’s stock worth $84,977,000 after purchasing an additional 55,555 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Seaport Global Securities reissued a “buy” rating and issued a $69.00 target price on shares of ITT in a research note on Tuesday, August 7th. Zacks Investment Research raised ITT from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Wednesday, August 8th. KeyCorp boosted their target price on ITT from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. DA Davidson set a $70.00 target price on ITT and gave the company a “buy” rating in a research note on Monday, August 6th. Finally, Stifel Nicolaus boosted their target price on ITT from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $66.38.
ITT (NYSE:ITT) last released its earnings results on Friday, November 2nd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. ITT had a return on equity of 16.10% and a net margin of 7.80%. The company had revenue of $680.60 million during the quarter, compared to analyst estimates of $677.36 million. During the same quarter in the previous year, the company posted $0.66 EPS. ITT’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts expect that ITT Inc will post 3.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 7th will be given a dividend of $0.134 per share. This represents a $0.54 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, December 6th. ITT’s payout ratio is 20.85%.
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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