Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of ITT Inc. (NYSE:ITT) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,378 shares of the company’s stock after buying an additional 120 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in ITT were worth $131,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. World Asset Management Inc purchased a new stake in shares of ITT during the third quarter valued at approximately $209,000. Rothschild Asset Management Inc. raised its stake in shares of ITT by 7.6% in the third quarter. Rothschild Asset Management Inc. now owns 363,985 shares of the company’s stock valued at $13,045,000 after buying an additional 25,619 shares during the last quarter. Cubic Asset Management LLC raised its stake in shares of ITT by 1.0% in the third quarter. Cubic Asset Management LLC now owns 12,457 shares of the company’s stock valued at $446,000 after buying an additional 125 shares during the last quarter. HL Financial Services LLC purchased a new stake in shares of ITT during the third quarter valued at approximately $248,000. Finally, Albert D Mason Inc. raised its stake in shares of ITT by 68.1% in the third quarter. Albert D Mason Inc. now owns 85,572 shares of the company’s stock valued at $3,067,000 after buying an additional 34,663 shares during the last quarter. Institutional investors own 91.15% of the company’s stock.
ITT Inc. (NYSE:ITT) opened at 39.26 on Monday. The company’s 50 day moving average is $41.16 and its 200-day moving average is $38.79. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 18.99 and a beta of 1.39. ITT Inc. has a 1-year low of $30.06 and a 1-year high of $44.00.
ITT (NYSE:ITT) last posted its earnings results on Tuesday, February 14th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.42 by $0.06. ITT had a net margin of 7.93% and a return on equity of 15.41%. The business had revenue of $588 million for the quarter, compared to the consensus estimate of $551.89 million. During the same period last year, the company earned $0.58 EPS. The firm’s revenue was down 11.8% compared to the same quarter last year. On average, analysts predict that ITT Inc. will post $2.38 EPS for the current fiscal 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 given a dividend of $0.128 per share. The ex-dividend date of this dividend is Thursday, March 9th. This is an increase from ITT’s previous quarterly dividend of $0.12. This represents a $0.51 annualized dividend and a yield of 1.30%. ITT’s dividend payout ratio (DPR) is currently 22.94%.
Several equities research analysts have commented on the stock. CIBC upgraded shares of ITT from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 16th. Oppenheimer Holdings Inc. upgraded shares of ITT from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Thursday, February 16th. TheStreet lowered shares of ITT from a “b” rating to a “c+” rating in a research note on Tuesday, February 14th. Aegis assumed coverage on shares of ITT in a research note on Friday, December 2nd. They set a “buy” rating and a $47.00 price objective on the stock. Finally, Stifel Nicolaus raised their price objective on shares of ITT from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $45.57.
In related news, insider Denise L. Ramos sold 75,000 shares of ITT stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $41.00, for a total transaction of $3,075,000.00. Following the sale, the insider now directly owns 258,032 shares in the company, valued at approximately $10,579,312. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Denise L. Ramos sold 50,000 shares of ITT stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $41.35, for a total transaction of $2,067,500.00. Following the sale, the chief executive officer now owns 308,032 shares in the company, valued at $12,737,123.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,739 shares of company stock worth $7,318,431. 1.60% of the stock is owned by corporate insiders.
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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