WINTON GROUP Ltd acquired a new stake in shares of ITT Inc (NYSE:ITT) in the third quarter, HoldingsChannel reports. The institutional investor acquired 202,169 shares of the conglomerate’s stock, valued at approximately $12,385,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of ITT. LPL Financial LLC bought a new position in ITT in the first quarter worth about $262,000. Principal Financial Group Inc. increased its stake in shares of ITT by 2.6% during the first quarter. Principal Financial Group Inc. now owns 384,879 shares of the conglomerate’s stock valued at $18,851,000 after purchasing an additional 9,914 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of ITT by 40.0% during the second quarter. State of Alaska Department of Revenue now owns 9,760 shares of the conglomerate’s stock valued at $510,000 after purchasing an additional 2,790 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of ITT by 25.5% during the second quarter. Xact Kapitalforvaltning AB now owns 13,274 shares of the conglomerate’s stock valued at $694,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of ITT during the second quarter valued at approximately $5,218,000. 90.85% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the stock. Stifel Nicolaus raised their target price on shares of ITT from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 6th. Seaport Global Securities reaffirmed a “buy” rating and set a $69.00 target price on shares of ITT in a research note on Tuesday, August 7th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Oppenheimer reaffirmed a “buy” rating and set a $68.00 target price on shares of ITT in a research note on Friday, November 2nd. Finally, UBS Group raised their target price on shares of ITT from $57.00 to $60.00 and gave the company a “sell” rating in a research note on Thursday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. ITT presently has a consensus rating of “Buy” and a consensus target price of $66.63.
Shares of ITT opened at $56.13 on Friday. The company has a market cap of $4.92 billion, a P/E ratio of 21.67, a PEG ratio of 1.45 and a beta of 1.71. ITT Inc has a twelve month low of $46.10 and a twelve month high of $63.04.
ITT (NYSE:ITT) last announced its quarterly earnings results on Friday, November 2nd. The conglomerate reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The company had revenue of $680.60 million during the quarter, compared to the consensus estimate of $677.36 million. ITT had a net margin of 7.80% and a return on equity of 16.10%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. On average, research analysts forecast that ITT Inc will post 3.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be given a dividend of $0.134 per share. This represents a $0.54 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, December 6th. ITT’s dividend payout ratio (DPR) is currently 20.85%.
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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