ITT Inc. (ITT) Shares Bought by Profund Advisors LLC

Profund Advisors LLC lifted its position in ITT Inc. (NYSE:ITT) by 13.2% during the 4th quarter, reports. The institutional investor owned 10,672 shares of the conglomerate’s stock after buying an additional 1,243 shares during the quarter. Profund Advisors LLC’s holdings in ITT were worth $570,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of ITT in the 4th quarter valued at $11,507,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of ITT in the 4th quarter valued at $3,436,000. AXA purchased a new stake in shares of ITT in the 4th quarter valued at $219,000. WINTON GROUP Ltd purchased a new stake in shares of ITT in the 4th quarter valued at $6,065,000. Finally, Geode Capital Management LLC raised its holdings in shares of ITT by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 740,459 shares of the conglomerate’s stock valued at $39,518,000 after buying an additional 15,889 shares during the period. Hedge funds and other institutional investors own 94.20% of the company’s stock.

In other news, CFO Thomas M. Scalera sold 9,215 shares of the stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $49.77, for a total value of $458,630.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Monday, January 8th. Stifel Nicolaus restated a “buy” rating and set a $63.00 price target (up previously from $60.00) on shares of ITT in a report on Tuesday, January 16th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Oppenheimer restated a “buy” rating and set a $60.00 price target on shares of ITT in a report on Thursday, January 18th. Finally, UBS initiated coverage on ITT in a report on Tuesday, January 23rd. They set a “sell” rating and a $55.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. ITT currently has a consensus rating of “Buy” and an average target price of $55.88.

Shares of ITT Inc. (NYSE ITT) opened at $51.37 on Tuesday. ITT Inc. has a 1-year low of $36.93 and a 1-year high of $57.62. The firm has a market capitalization of $4,553.77, a PE ratio of 40.13, a price-to-earnings-growth ratio of 1.35 and a beta of 1.59.

ITT (NYSE:ITT) last issued its quarterly earnings results on Friday, February 16th. The conglomerate reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. ITT had a return on equity of 14.65% and a net margin of 4.39%. The company had revenue of $683.60 million for the quarter, compared to the consensus estimate of $635.71 million. During the same quarter in the prior year, the business earned $0.48 EPS. ITT’s revenue was up 16.2% on a year-over-year basis. analysts forecast that ITT Inc. will post 3.08 earnings per share for the current year.

ITT declared that its board has approved a share repurchase plan on Friday, February 16th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the conglomerate to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be issued a $0.134 dividend. The ex-dividend date is Friday, March 9th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.04%. This is an increase from ITT’s previous quarterly dividend of $0.13. ITT’s dividend payout ratio is presently 42.19%.

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ITT 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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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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