Teachers Retirement System of The State of Kentucky lifted its stake in ITT Inc. (NYSE:ITT) by 16.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,439 shares of the conglomerate’s stock after purchasing an additional 6,719 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.06% of ITT worth $1,946,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of ITT. Pinnacle Financial Partners Inc. bought a new stake in shares of ITT in the second quarter valued at about $105,000. Riverhead Capital Management LLC increased its position in ITT by 57.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock valued at $117,000 after purchasing an additional 1,059 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ITT by 10.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock valued at $132,000 after purchasing an additional 314 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in ITT during the 1st quarter valued at about $214,000. Finally, Stephens Inc. AR purchased a new position in ITT during the 1st quarter valued at about $222,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.
ITT Inc. (ITT) opened at 44.83 on Wednesday. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 19.20 and a beta of 1.48. The firm’s 50-day moving average is $41.46 and its 200-day moving average is $40.55. ITT Inc. has a 52 week low of $32.46 and a 52 week high of $45.00.
ITT (NYSE:ITT) last released its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. ITT had a return on equity of 14.17% and a net margin of 8.64%. The business had revenue of $630.90 million for the quarter, compared to the consensus estimate of $628.65 million. During the same quarter in the prior year, the business posted $0.67 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts anticipate that ITT Inc. will post $2.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were issued a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Friday, September 8th. ITT’s dividend payout ratio (DPR) is 21.70%.
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Several brokerages have recently weighed in on ITT. Cowen and Company reaffirmed a “buy” rating and issued a $50.00 price target on shares of ITT in a research report on Thursday, September 21st. BidaskClub lowered ITT from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research cut ITT from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and dropped their target price for the company from $46.00 to $43.00 in a research report on Tuesday, June 6th. Finally, ValuEngine cut ITT from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. ITT presently has a consensus rating of “Hold” and a consensus price target of $46.75.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.20% of the company’s stock.
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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