CX Institutional purchased a new position in ITT Inc (NYSE:ITT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 500 shares of the conglomerate’s stock, valued at approximately $30,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in ITT by 8.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 33,117 shares of the conglomerate’s stock worth $1,956,000 after acquiring an additional 2,641 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in ITT by 1.0% during the 3rd quarter. Wedge Capital Management L L P NC now owns 538,384 shares of the conglomerate’s stock worth $31,792,000 after acquiring an additional 5,143 shares in the last quarter. Trust Co. of Oklahoma bought a new position in ITT during the 3rd quarter worth about $256,000. Schonfeld Strategic Advisors LLC grew its holdings in ITT by 1,513.9% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 164,621 shares of the conglomerate’s stock worth $9,671,000 after acquiring an additional 154,421 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in ITT by 9.5% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,100 shares of the conglomerate’s stock worth $476,000 after acquiring an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 90.80% of the company’s stock.
Shares of ITT stock opened at $64.66 on Friday. The firm has a market capitalization of $5.59 billion, a P/E ratio of 17.86, a PEG ratio of 3.28 and a beta of 1.59. The company has a 50 day moving average price of $61.86 and a 200 day moving average price of $56.74. ITT Inc has a 52 week low of $35.41 and a 52 week high of $75.56.
ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, July 31st. The conglomerate reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.21. ITT had a net margin of 12.26% and a return on equity of 14.40%. The firm had revenue of $514.70 million during the quarter, compared to analyst estimates of $515.49 million. During the same period last year, the firm posted $0.93 EPS. ITT’s revenue was down 28.5% on a year-over-year basis. As a group, analysts anticipate that ITT Inc will post 2.84 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Monday, December 7th will be given a dividend of $0.169 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, December 4th. ITT’s dividend payout ratio is presently 17.85%.
ITT has been the topic of several recent research reports. KeyCorp increased their target price on shares of ITT from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday. Oppenheimer increased their price target on shares of ITT from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, William Blair reissued a “market perform” rating on shares of ITT in a research report on Monday, August 3rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $67.43.
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: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.
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