American Century Companies Inc. decreased its holdings in ITT Inc. (NYSE:ITT) by 70.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 156,111 shares of the conglomerate’s stock after selling 364,447 shares during the quarter. American Century Companies Inc. owned 0.18% of ITT worth $6,911,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Chicago Equity Partners LLC increased its position in ITT by 244.9% in the 3rd quarter. Chicago Equity Partners LLC now owns 45,875 shares of the conglomerate’s stock valued at $2,031,000 after acquiring an additional 32,575 shares in the last quarter. Canada Pension Plan Investment Board increased its position in ITT by 21.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 67,696 shares of the conglomerate’s stock valued at $2,997,000 after acquiring an additional 12,000 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of ITT in the 3rd quarter valued at about $251,000. Crossmark Global Holdings Inc. bought a new position in shares of ITT in the 3rd quarter valued at about $329,000. Finally, Cubic Asset Management LLC boosted its stake in shares of ITT by 2.7% in the 3rd quarter. Cubic Asset Management LLC now owns 46,097 shares of the conglomerate’s stock valued at $2,041,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.
ITT Inc. (NYSE:ITT) traded up $0.33 during trading on Thursday, hitting $53.26. The stock had a trading volume of 685,567 shares, compared to its average volume of 580,590. The firm has a market capitalization of $4,670.00, a P/E ratio of 21.86, a P/E/G ratio of 1.68 and a beta of 1.59. ITT Inc. has a one year low of $36.93 and a one year high of $54.79.
ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, November 2nd. The conglomerate reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $605.06 million. ITT had a return on equity of 14.12% and a net margin of 8.29%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 EPS. analysts forecast that ITT Inc. will post 2.53 EPS for the current fiscal year.
The company 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 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, December 7th. ITT’s dividend payout ratio (DPR) is currently 22.37%.
ITT has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $49.00 price objective on shares of ITT in a research note on Wednesday, August 16th. ValuEngine lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Cowen reaffirmed a “buy” rating and issued a $50.00 price target on shares of ITT in a research note on Thursday, September 21st. Robert W. Baird reiterated a “buy” rating and issued a $51.00 price objective on shares of ITT in a report on Wednesday, October 4th. Finally, Deutsche Bank upgraded shares of ITT from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $55.00 in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $50.88.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total value of $214,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Denise L. Ramos sold 161,100 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $50.14, for a total value of $8,077,554.00. Following the completion of the transaction, the insider now owns 283,032 shares of the company’s stock, valued at approximately $14,191,224.48. The disclosure for this sale can be found here. In the last three months, insiders sold 176,960 shares of company stock valued at $8,845,462. 1.20% of the stock is currently owned by insiders.
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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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