IronBridge Capital Management LP lowered its position in shares of ITT Inc. (NYSE:ITT) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 341,798 shares of the conglomerate’s stock after selling 26,340 shares during the period. IronBridge Capital Management LP owned about 0.39% of ITT worth $14,021,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of ITT by 38.2% in the first quarter. JPMorgan Chase & Co. now owns 410,347 shares of the conglomerate’s stock worth $16,833,000 after buying an additional 113,386 shares in the last quarter. Timber Hill LLC acquired a new position in shares of ITT during the first quarter worth $201,000. Pacer Advisors Inc. increased its position in shares of ITT by 22.0% in the first quarter. Pacer Advisors Inc. now owns 9,318 shares of the conglomerate’s stock worth $382,000 after buying an additional 1,680 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of ITT by 11.3% in the first quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the conglomerate’s stock worth $264,000 after buying an additional 654 shares in the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of ITT by 1.2% in the first quarter. Mason Street Advisors LLC now owns 41,667 shares of the conglomerate’s stock worth $1,709,000 after buying an additional 502 shares in the last quarter. Institutional investors and hedge funds own 91.15% of the company’s stock.
ITT Inc. (NYSE:ITT) traded up 0.91% during trading on Friday, hitting $39.00. The company had a trading volume of 933,132 shares. ITT Inc. has a one year low of $30.06 and a one year high of $44.00. The stock has a 50-day moving average of $40.52 and a 200-day moving average of $40.38. The stock has a market capitalization of $3.46 billion, a PE ratio of 17.97 and a beta of 1.39.
ITT (NYSE:ITT) last issued its earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. ITT had a net margin of 7.93% and a return on equity of 15.41%. The business had revenue of $625.80 million during the quarter, compared to the consensus estimate of $607.08 million. During the same period last year, the business posted $0.59 EPS. ITT’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that ITT Inc. will post $2.42 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 12th will be paid a $0.128 dividend. The ex-dividend date is Thursday, June 8th. This represents a $0.51 annualized dividend and a yield of 1.32%. ITT’s dividend payout ratio (DPR) is currently 22.94%.
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A number of brokerages have recently weighed in on ITT. Stifel Nicolaus lifted their price target on ITT from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. TheStreet upgraded ITT from a “c+” rating to a “b” rating in a report on Monday, March 27th. CIBC upgraded ITT from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 16th. Finally, Oppenheimer Holdings Inc. upgraded ITT from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Thursday, February 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. ITT currently has an average rating of “Buy” and a consensus price target of $46.33.
In related news, insider Denise L. Ramos sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $41.00, for a total value of $3,075,000.00. Following the completion of the sale, the insider now directly owns 258,032 shares in the company, valued at approximately $10,579,312. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aris C. Chicles sold 28,089 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $41.00, for a total transaction of $1,151,649.00. Following the completion of the sale, the insider now owns 10,430 shares of the company’s stock, valued at $427,630. The disclosure for this sale can be found here. Insiders sold a total of 153,089 shares of company stock valued at $6,294,149 over the last quarter. 1.60% of the stock is currently owned by company 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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