Thrivent Financial For Lutherans decreased its holdings in ITT Inc. (NYSE:ITT) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,776 shares of the conglomerate’s stock after selling 3,235 shares during the quarter. Thrivent Financial For Lutherans owned approximately 0.12% of ITT worth $5,699,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in ITT by 4.0% during the fourth quarter. BlackRock Inc. now owns 7,413,218 shares of the conglomerate’s stock valued at $395,641,000 after acquiring an additional 284,131 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of ITT by 2.7% during the third quarter. Janus Henderson Group PLC now owns 3,132,953 shares of the conglomerate’s stock valued at $138,696,000 after purchasing an additional 80,975 shares during the period. Macquarie Group Ltd. raised its holdings in shares of ITT by 18.5% during the third quarter. Macquarie Group Ltd. now owns 2,615,074 shares of the conglomerate’s stock valued at $115,769,000 after purchasing an additional 407,746 shares during the period. LSV Asset Management raised its holdings in shares of ITT by 1.7% during the fourth quarter. LSV Asset Management now owns 2,041,870 shares of the conglomerate’s stock valued at $108,974,000 after purchasing an additional 33,700 shares during the period. Finally, Paradice Investment Management LLC raised its holdings in shares of ITT by 2.2% during the fourth quarter. Paradice Investment Management LLC now owns 1,610,372 shares of the conglomerate’s stock valued at $85,946,000 after purchasing an additional 35,426 shares during the period. 94.20% of the stock is currently owned by institutional investors.
ITT has been the topic of a number of analyst reports. Robert W. Baird restated a “buy” rating and issued a $64.00 target price on shares of ITT in a report on Wednesday. Oppenheimer reaffirmed a “buy” rating and issued a $60.00 price objective on shares of ITT in a research report on Thursday, January 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $62.00 price objective (down from $63.00) on shares of ITT in a research report on Tuesday, February 20th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $56.78.
In other ITT news, CFO Thomas M. Scalera sold 9,215 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $49.77, for a total value of $458,630.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is owned by company insiders.
Shares of ITT stock traded down $1.54 on Friday, hitting $49.04. 775,416 shares of the company traded hands, compared to its average volume of 635,310. The stock has a market cap of $4,461.16, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.64 and a beta of 1.55. ITT Inc. has a 12-month low of $36.93 and a 12-month high of $57.62.
ITT (NYSE:ITT) last issued its earnings results on Friday, February 16th. The conglomerate reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $683.60 million for the quarter, compared to analysts’ expectations of $635.71 million. ITT had a net margin of 4.39% and a return on equity of 14.65%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. equities research analysts forecast that ITT Inc. will post 3.08 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 12th were issued a $0.134 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Friday, March 9th. This is a positive change from ITT’s previous quarterly dividend of $0.13. ITT’s dividend payout ratio (DPR) is 20.85%.
ITT announced that its Board of Directors has initiated a share repurchase program on Friday, February 16th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the conglomerate to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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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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