Alps Advisors Inc. reduced its position in shares of ITT Inc. (NYSE:ITT) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,169 shares of the company’s stock after selling 824 shares during the period. Alps Advisors Inc.’s holdings in ITT were worth $357,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in ITT. Bank of Montreal Can bought a new stake in ITT during the second quarter worth $153,000. Creative Planning raised its stake in ITT by 10.5% in the second quarter. Creative Planning now owns 5,293 shares of the company’s stock worth $169,000 after buying an additional 501 shares in the last quarter. LS Investment Advisors LLC raised its stake in ITT by 72.5% in the second quarter. LS Investment Advisors LLC now owns 5,552 shares of the company’s stock worth $178,000 after buying an additional 2,333 shares in the last quarter. IBM Retirement Fund raised its stake in ITT by 0.4% in the second quarter. IBM Retirement Fund now owns 9,123 shares of the company’s stock worth $292,000 after buying an additional 34 shares in the last quarter. Finally, Oakbrook Investments LLC raised its stake in ITT by 6.9% in the second quarter. Oakbrook Investments LLC now owns 9,300 shares of the company’s stock worth $297,000 after buying an additional 600 shares in the last quarter. 89.37% of the stock is currently owned by institutional investors.
Shares of ITT Inc. (NYSE:ITT) traded up 0.12% during midday trading on Wednesday, hitting $34.30. 304,189 shares of the stock traded hands. The firm has a 50-day moving average price of $35.51 and a 200 day moving average price of $35.09. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 13.04 and a beta of 1.28. ITT Inc. has a one year low of $29.15 and a one year high of $40.52.
ITT (NYSE:ITT) last issued its earnings results on Thursday, August 4th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.07. ITT had a net margin of 9.49% and a return on equity of 16.02%. The business had revenue of $626.20 million for the quarter, compared to the consensus estimate of $620.12 million. During the same quarter last year, the firm posted $0.69 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that ITT Inc. will post $2.40 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were paid a $0.124 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Wednesday, September 7th. ITT’s dividend payout ratio is presently 19.01%.
A number of analysts have recently weighed in on ITT shares. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of ITT in a research report on Tuesday, August 23rd. Zacks Investment Research downgraded shares of ITT from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Barclays PLC lowered their target price on shares of ITT from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Finally, KeyCorp reiterated a “sector weight” rating on shares of ITT in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $41.43.
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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