Keeley Teton Advisors LLC reduced its stake in shares of ITT Inc. (NYSE:ITT) by 16.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 764,202 shares of the conglomerate’s stock after selling 150,368 shares during the period. ITT accounts for about 1.8% of Keeley Teton Advisors LLC’s portfolio, making the stock its 5th largest holding. Keeley Teton Advisors LLC owned approximately 0.87% of ITT worth $33,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of ITT. Pinnacle Financial Partners Inc. acquired a new position in shares of ITT during the 2nd quarter worth approximately $105,000. Riverhead Capital Management LLC boosted its holdings in shares of ITT by 57.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 1,059 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ITT by 10.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock worth $132,000 after purchasing an additional 314 shares during the last quarter. Stevens First Principles Investment Advisors acquired a new position in shares of ITT during the 3rd quarter worth approximately $137,000. Finally, Huntington National Bank acquired a new position in shares of ITT during the 3rd quarter worth approximately $191,000. Institutional investors and hedge funds own 92.51% of the company’s stock.
Several brokerages have recently weighed in on ITT. Cowen restated a “buy” rating and set a $50.00 target price on shares of ITT in a report on Thursday, September 21st. Seaport Global Securities restated a “buy” rating on shares of ITT in a report on Monday, November 6th. KeyCorp restated a “buy” rating on shares of ITT in a report on Friday, November 3rd. ValuEngine cut ITT from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Zacks Investment Research cut ITT from a “buy” rating to a “hold” rating in a report on Monday, November 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $50.88.
ITT Inc. (NYSE:ITT) traded down $0.70 on Wednesday, reaching $53.11. The company had a trading volume of 532,200 shares, compared to its average volume of 580,615. ITT Inc. has a 12-month low of $36.93 and a 12-month high of $54.79. The firm has a market capitalization of $4,735.28, a PE ratio of 22.14, a PEG ratio of 1.71 and a beta of 1.59.
ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, November 2nd. The conglomerate reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. ITT had a return on equity of 14.12% and a net margin of 8.29%. The firm had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $605.06 million. During the same period in the prior year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. equities research analysts expect that ITT Inc. will post 2.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, December 7th. ITT’s dividend payout ratio is presently 21.89%.
In other ITT news, CFO Thomas M. Scalera sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $50.98, for a total value of $254,900.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Steven C. Giuliano sold 5,860 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $50.94, for a total value of $298,508.40. The disclosure for this sale can be found here. Insiders sold 176,960 shares of company stock worth $8,845,462 over the last quarter. 1.20% of the stock is currently owned by insiders.
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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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