Mutual of America Capital Management LLC raised its position in shares of ITT Inc. (NYSE:ITT) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,313 shares of the conglomerate’s stock after buying an additional 3,768 shares during the period. Mutual of America Capital Management LLC owned 0.08% of ITT worth $2,925,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in ITT. Janus Capital Management LLC increased its position in shares of ITT by 22.4% in the fourth quarter. Janus Capital Management LLC now owns 2,697,341 shares of the conglomerate’s stock worth $104,037,000 after buying an additional 493,695 shares in the last quarter. FMR LLC increased its position in shares of ITT by 13.5% in the fourth quarter. FMR LLC now owns 2,365,027 shares of the conglomerate’s stock worth $91,220,000 after buying an additional 280,981 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of ITT by 0.6% in the fourth quarter. Macquarie Group Ltd. now owns 1,915,709 shares of the conglomerate’s stock worth $73,889,000 after buying an additional 10,774 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of ITT by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,524,124 shares of the conglomerate’s stock worth $58,785,000 after buying an additional 64,851 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of ITT by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 1,121,451 shares of the conglomerate’s stock worth $46,001,000 after buying an additional 42,053 shares in the last quarter. 91.15% of the stock is owned by institutional investors and hedge funds.
Shares of ITT Inc. (NYSE:ITT) traded up 0.84% during midday trading on Friday, reaching $38.33. 770,968 shares of the company traded hands. The company has a 50 day moving average price of $40.31 and a 200 day moving average price of $40.49. The company has a market capitalization of $3.40 billion, a PE ratio of 17.66 and a beta of 1.39. ITT Inc. has a 1-year low of $30.06 and a 1-year high of $44.00.
ITT (NYSE:ITT) last issued its quarterly earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.04. ITT had a net margin of 7.93% and a return on equity of 15.41%. The business had revenue of $625.80 million for the quarter, compared to analyst estimates of $607.08 million. During the same quarter in the prior year, the business posted $0.59 EPS. ITT’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts expect that ITT Inc. will post $2.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Monday, June 12th will be paid a dividend of $0.128 per share. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $0.51 dividend on an annualized basis and a yield of 1.34%. ITT’s payout ratio is 22.94%.
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A number of research firms have recently commented on ITT. TheStreet cut shares of ITT from a “b” rating to a “c+” rating in a report on Tuesday, February 14th. Oppenheimer Holdings Inc. upgraded shares of ITT from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Thursday, February 16th. CIBC upgraded shares of ITT from a “market perform” rating to an “outperform” rating in a report on Thursday, February 16th. Finally, Stifel Nicolaus increased their price target on shares of ITT from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, February 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. ITT currently has an average rating of “Buy” and an average target price of $46.33.
In other ITT news, CEO Denise L. Ramos sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $41.35, for a total transaction of $2,067,500.00. Following the transaction, the chief executive officer now owns 308,032 shares in the company, valued at approximately $12,737,123.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Denise L. Ramos sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $41.00, for a total transaction of $3,075,000.00. Following the transaction, the insider now owns 258,032 shares in the company, valued at approximately $10,579,312. The disclosure for this sale can be found here. Insiders have sold a total of 153,089 shares of company stock worth $6,294,149 in the last 90 days. 1.60% of the stock is currently owned by company insiders.
ITT Company Profile
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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