1st Global Advisors Inc. boosted its stake in shares of ITT Inc. (NYSE:ITT) by 3.1% during the first quarter, Holdings Channel reports. The institutional investor owned 6,830 shares of the conglomerate’s stock after buying an additional 206 shares during the period. 1st Global Advisors Inc.’s holdings in ITT were worth $280,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Chartwell Investment Partners LLC raised its stake in ITT by 5.9% in the third quarter. Chartwell Investment Partners LLC now owns 507,300 shares of the conglomerate’s stock valued at $18,182,000 after buying an additional 28,050 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new stake in shares of ITT during the third quarter valued at $1,693,000. Dean Investment Associates LLC raised its stake in shares of ITT by 2.1% in the third quarter. Dean Investment Associates LLC now owns 73,315 shares of the conglomerate’s stock valued at $2,628,000 after buying an additional 1,485 shares in the last quarter. Highbridge Capital Management LLC raised its stake in shares of ITT by 483.7% in the third quarter. Highbridge Capital Management LLC now owns 67,755 shares of the conglomerate’s stock valued at $2,428,000 after buying an additional 56,148 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of ITT by 14.4% in the third quarter. Two Sigma Advisers LP now owns 200,491 shares of the conglomerate’s stock valued at $7,186,000 after buying an additional 25,201 shares in the last quarter. 91.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of ITT Inc. (NYSE:ITT) remained flat at $38.97 during midday trading on Tuesday. The company’s stock had a trading volume of 427,895 shares. The firm has a market capitalization of $3.46 billion, a P/E ratio of 17.96 and a beta of 1.39. ITT Inc. has a 1-year low of $30.06 and a 1-year high of $44.00. The firm has a 50-day moving average price of $40.46 and a 200 day moving average price of $40.50.
ITT (NYSE:ITT) last released its earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. The company had revenue of $625.80 million during the quarter, compared to the consensus estimate of $607.08 million. ITT had a return on equity of 15.41% and a net margin of 7.93%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, analysts expect that ITT Inc. will post $2.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 12th will be given a dividend of $0.128 per share. The ex-dividend date is Thursday, June 8th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.31%. ITT’s payout ratio is currently 22.94%.
Several equities research analysts have weighed in on ITT shares. TheStreet lowered ITT from a “b” rating to a “c+” rating in a research report on Tuesday, February 14th. CIBC raised ITT from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 16th. Oppenheimer Holdings Inc. raised ITT from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Thursday, February 16th. Finally, Stifel Nicolaus increased their target price on ITT from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, February 15th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $46.33.
In other news, CEO Denise L. Ramos sold 50,000 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $41.35, for a total transaction of $2,067,500.00. Following the completion of the sale, the chief executive officer now owns 308,032 shares in the company, valued at $12,737,123.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Denise L. Ramos sold 75,000 shares of the business’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $41.00, for a total value of $3,075,000.00. Following the sale, the insider now owns 258,032 shares of the company’s stock, valued at approximately $10,579,312. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,089 shares of company stock valued at $6,294,149. 1.60% of the stock is currently owned by corporate insiders.
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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