Blair William & Co. IL trimmed its holdings in ITT Inc (NYSE:ITT) by 4.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 30,618 shares of the conglomerate’s stock after selling 1,450 shares during the period. Blair William & Co. IL’s holdings in ITT were worth $1,876,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its position in ITT by 92.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,901 shares of the conglomerate’s stock worth $465,000 after acquiring an additional 4,281 shares during the last quarter. Aperio Group LLC lifted its position in ITT by 14.6% during the 2nd quarter. Aperio Group LLC now owns 17,178 shares of the conglomerate’s stock worth $898,000 after acquiring an additional 2,188 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in ITT during the 2nd quarter worth $211,000. Victory Capital Management Inc. lifted its position in ITT by 4.5% during the 2nd quarter. Victory Capital Management Inc. now owns 967,871 shares of the conglomerate’s stock worth $50,591,000 after acquiring an additional 41,320 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in ITT during the 2nd quarter worth $1,233,000. Institutional investors own 91.17% of the company’s stock.
A number of research firms have weighed in on ITT. Oppenheimer set a $68.00 target price on shares of ITT and gave the stock a “buy” rating in a research report on Tuesday, November 27th. Zacks Investment Research lowered shares of ITT from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. ValuEngine lowered shares of ITT from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Gordon Haskett began coverage on shares of ITT in a research report on Friday, October 12th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $66.25.
Shares of ITT opened at $52.05 on Friday. The stock has a market cap of $4.61 billion, a PE ratio of 20.10, a P/E/G ratio of 1.36 and a beta of 1.73. ITT Inc has a 52 week low of $46.10 and a 52 week high of $63.04.
ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, November 2nd. The conglomerate reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.03. The business had revenue of $680.60 million during the quarter, compared to analyst estimates of $677.36 million. ITT had a net margin of 7.80% and a return on equity of 16.10%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. Sell-side analysts forecast that ITT Inc will post 3.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be given a dividend of $0.134 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, December 6th. ITT’s dividend payout ratio is currently 20.85%.
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ITT Company Profile
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: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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