Eads & Heald Investment Counsel reduced its stake in shares of ITT Corp. (NYSE:ITT) by 17.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,125 shares of the company’s stock after selling 1,705 shares during the period. Eads & Heald Investment Counsel’s holdings in ITT Corp. were worth $260,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in ITT Corp. by 3.4% in the first quarter. Geode Capital Management LLC now owns 562,588 shares of the company’s stock valued at $20,753,000 after buying an additional 18,270 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of ITT Corp. by 19.1% in the first quarter. UBS Asset Management Americas Inc. now owns 335,637 shares of the company’s stock worth $12,382,000 after buying an additional 53,859 shares during the last quarter. UBS Group AG increased its position in shares of ITT Corp. by 15.1% in the first quarter. UBS Group AG now owns 35,161 shares of the company’s stock worth $1,297,000 after buying an additional 4,601 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of ITT Corp. during the first quarter worth approximately $502,000. Finally, Credit Agricole S A increased its position in shares of ITT Corp. by 127.1% in the first quarter. Credit Agricole S A now owns 53,305 shares of the company’s stock worth $1,966,000 after buying an additional 29,836 shares during the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.
Shares of ITT Corp. (NYSE:ITT) traded down 0.03% during midday trading on Friday, reaching $34.11. 272,663 shares of the company were exchanged. The firm’s 50 day moving average is $35.42 and its 200-day moving average is $35.08. ITT Corp. has a 52-week low of $29.15 and a 52-week high of $40.52. The company has a market capitalization of $3.06 billion, a PE ratio of 12.97 and a beta of 1.28.
ITT Corp. (NYSE:ITT) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. ITT Corp. 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 analysts’ expectations of $620.12 million. During the same period in the previous year, the business earned $0.69 earnings per share. The company’s revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that ITT Corp. will post $2.40 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were paid a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Wednesday, September 7th. ITT Corp.’s dividend payout ratio is currently 19.01%.
A number of brokerages have commented on ITT. KeyCorp restated a “sector weight” rating on shares of ITT Corp. in a research report on Wednesday, June 29th. Barclays PLC cut their price objective on shares of ITT Corp. from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Zacks Investment Research downgraded shares of ITT Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of ITT Corp. in a research report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. ITT Corp. has a consensus rating of “Hold” and an average price target of $41.43.
About ITT Corp.
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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