Karp Capital Management Corp purchased a new stake in shares of ITT Inc. (NYSE:ITT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,620 shares of the conglomerate’s stock, valued at approximately $518,000.
Several other large investors also recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of ITT by 3.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,378 shares of the conglomerate’s stock valued at $131,000 after buying an additional 120 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of ITT during the fourth quarter valued at $571,000. Tudor Investment Corp Et Al bought a new stake in shares of ITT during the fourth quarter valued at $404,000. Alyeska Investment Group L.P. bought a new stake in shares of ITT during the fourth quarter valued at $1,828,000. Finally, GSA Capital Partners LLP bought a new stake in shares of ITT during the fourth quarter valued at $814,000. 93.20% of the stock is owned by institutional investors.
Shares of ITT Inc. (NYSE ITT) opened at 38.90 on Friday. The firm has a market cap of $3.45 billion, a PE ratio of 17.93 and a beta of 1.35. The company’s 50-day moving average price is $39.86 and its 200 day moving average price is $40.60. ITT Inc. has a 1-year low of $30.06 and a 1-year high of $44.00.
ITT (NYSE:ITT) last announced its quarterly earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. ITT had a return on equity of 14.65% and a net margin of 8.04%. The company had revenue of $625.80 million for the quarter, compared to the consensus estimate of $607.08 million. During the same quarter in the previous year, the business earned $0.59 EPS. ITT’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that ITT Inc. will post $2.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 12th will be issued a dividend of $0.128 per share. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $0.51 dividend on an annualized basis and a yield of 1.32%. ITT’s dividend payout ratio is presently 23.50%.
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Several brokerages have recently weighed in on ITT. Stifel Nicolaus increased their price target on ITT from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. TheStreet raised ITT from a “c+” rating to a “b” rating in a research note on Monday, March 27th. BidaskClub raised ITT from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and decreased their price target for the company from $46.00 to $43.00 in a research note on Tuesday, June 6th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $46.67.
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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