Cerebellum GP LLC Raises Holdings in ITT Inc (NYSE:ITT)

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Cerebellum GP LLC grew its position in ITT Inc (NYSE:ITT) by 85.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,913 shares of the conglomerate’s stock after purchasing an additional 2,730 shares during the period. Cerebellum GP LLC’s holdings in ITT were worth $343,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Field & Main Bank acquired a new position in ITT in the 1st quarter worth about $28,000. Oregon Public Employees Retirement Fund increased its position in ITT by 4,727.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,673,955 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 1,639,276 shares during the last quarter. Advisors Asset Management Inc. increased its position in ITT by 297.7% in the 4th quarter. Advisors Asset Management Inc. now owns 1,559 shares of the conglomerate’s stock worth $75,000 after purchasing an additional 1,167 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in ITT in the 1st quarter worth about $87,000. Finally, Advisor Group Inc. increased its position in ITT by 10.0% in the 4th quarter. Advisor Group Inc. now owns 3,065 shares of the conglomerate’s stock worth $148,000 after purchasing an additional 278 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors.

In related news, CFO Thomas M. Scalera sold 64,135 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.57, for a total transaction of $3,948,791.95. Following the completion of the sale, the chief financial officer now owns 73,701 shares in the company, valued at approximately $4,537,770.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Farrokh Batliwala sold 8,950 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.38, for a total value of $549,351.00. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Several research analysts have weighed in on ITT shares. Oppenheimer set a $68.00 target price on ITT and gave the stock a “buy” rating in a research report on Wednesday, March 27th. UBS Group raised ITT from a “sell” rating to a “neutral” rating and upped their target price for the stock from $48.00 to $60.00 in a research report on Thursday, February 28th. Zacks Investment Research raised ITT from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Wednesday, May 8th. Stifel Nicolaus increased their price objective on ITT from $66.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, ValuEngine raised ITT from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $66.75.

Shares of NYSE ITT opened at $62.33 on Monday. The stock has a market cap of $5.47 billion, a PE ratio of 19.30, a P/E/G ratio of 1.92 and a beta of 1.57. ITT Inc has a 52 week low of $44.89 and a 52 week high of $63.54.

ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, May 3rd. The conglomerate reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.07. The business had revenue of $695.50 million for the quarter, compared to analyst estimates of $682.49 million. ITT had a return on equity of 16.69% and a net margin of 11.04%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 EPS. Analysts expect that ITT Inc will post 3.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 10th will be paid a dividend of $0.147 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.59 annualized dividend and a yield of 0.94%. ITT’s payout ratio is 18.27%.

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ITT Company Profile

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: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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