A.R.T. Advisors LLC reduced its stake in ITT Inc. (NYSE:ITT) by 41.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,100 shares of the company’s stock after selling 4,300 shares during the period. A.R.T. Advisors LLC’s holdings in ITT were worth $235,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ITT. Tyers Asset Management LLC purchased a new position in shares of ITT during the fourth quarter valued at approximately $135,000. Advisor Group Inc. boosted its position in shares of ITT by 40.7% in the third quarter. Advisor Group Inc. now owns 3,852 shares of the company’s stock valued at $138,000 after buying an additional 1,114 shares during the period. Quantbot Technologies LP purchased a new position in shares of ITT during the third quarter valued at approximately $159,000. Elkfork Partners LLC purchased a new position in shares of ITT during the fourth quarter valued at approximately $185,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of ITT by 154.1% in the third quarter. Tower Research Capital LLC TRC now owns 5,457 shares of the company’s stock valued at $196,000 after buying an additional 3,309 shares during the period. 91.15% of the stock is owned by hedge funds and other institutional investors.
ITT Inc. (NYSE:ITT) opened at 40.59 on Tuesday. The firm’s 50-day moving average price is $41.38 and its 200 day moving average price is $38.69. ITT Inc. has a 1-year low of $30.06 and a 1-year high of $44.00. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 19.64 and a beta of 1.39.
ITT (NYSE:ITT) last posted its earnings results on Tuesday, February 14th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The business had revenue of $588 million for the quarter, compared to analyst estimates of $551.89 million. ITT had a return on equity of 15.41% and a net margin of 7.93%. The firm’s revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 EPS. On average, analysts predict that ITT Inc. will post $2.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 13th will be issued a dividend of $0.128 per share. The ex-dividend date is Thursday, March 9th. This is a positive change from ITT’s previous quarterly dividend of $0.12. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.26%. ITT’s payout ratio is presently 22.94%.
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ITT has been the subject of several recent analyst reports. Stifel Nicolaus increased their price objective on ITT from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, February 15th. Barclays PLC reiterated a “buy” rating and set a $49.00 price objective on shares of ITT in a research note on Wednesday, January 18th. Bank of America Corp upgraded ITT from a “neutral” rating to a “buy” rating in a research note on Monday, January 9th. Aegis initiated coverage on ITT in a research note on Friday, December 2nd. They set a “buy” rating and a $47.00 price objective for the company. Finally, TheStreet lowered ITT from a “b” rating to a “c+” rating in a research note on Tuesday, February 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $44.88.
In related news, insider Aris C. Chicles sold 23,650 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $43.31, for a total transaction of $1,024,281.50. Following the transaction, the insider now directly owns 63,550 shares of the company’s stock, valued at approximately $2,752,350.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Denise L. Ramos sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $41.00, for a total value of $3,075,000.00. Following the transaction, the insider now directly owns 258,032 shares in the company, valued at $10,579,312. The disclosure for this sale can be found here. Insiders have sold a total of 176,739 shares of company stock worth $7,318,431 over the last three months. 1.60% of the stock is owned by insiders.
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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