Legal & General Group Plc grew its stake in ITT Inc. (NYSE:ITT) by 13.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,391 shares of the conglomerate’s stock after buying an additional 10,528 shares during the quarter. Legal & General Group Plc owned approximately 0.10% of ITT worth $3,632,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of ITT. BlackRock Inc. increased its position in ITT by 10,370.9% in the first quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock worth $298,717,000 after buying an additional 7,212,684 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in ITT in the second quarter worth about $27,785,000. Vanguard Group Inc. increased its position in ITT by 6.1% in the first quarter. Vanguard Group Inc. now owns 7,940,146 shares of the conglomerate’s stock worth $325,705,000 after buying an additional 454,454 shares in the last quarter. Wellington Management Group LLP purchased a new stake in ITT in the first quarter worth about $17,805,000. Finally, Deprince Race & Zollo Inc. increased its position in ITT by 53.2% in the first quarter. Deprince Race & Zollo Inc. now owns 1,194,346 shares of the conglomerate’s stock worth $48,992,000 after buying an additional 414,858 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.
A number of analysts have commented on the company. BidaskClub cut ITT from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research cut ITT from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stifel Nicolaus restated a “buy” rating and issued a $49.00 price target on shares of ITT in a research report on Wednesday, August 16th. Finally, Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $46.00 to $43.00 in a research report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.29.
Shares of ITT Inc. (NYSE ITT) opened at 41.86 on Friday. ITT Inc. has a 52-week low of $32.46 and a 52-week high of $44.00. The stock has a market cap of $3.68 billion, a PE ratio of 17.93 and a beta of 1.46. The company’s 50 day moving average price is $40.35 and its 200 day moving average price is $40.30.
ITT (NYSE:ITT) last announced its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. ITT had a return on equity of 14.17% and a net margin of 8.64%. The firm had revenue of $630.90 million during the quarter, compared to analyst estimates of $628.65 million. During the same quarter in the previous year, the business earned $0.67 EPS. ITT’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts anticipate that ITT Inc. will post $2.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be paid a $0.128 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.51 annualized dividend and a dividend yield of 1.22%. ITT’s dividend payout ratio is presently 21.70%.
ILLEGAL ACTIVITY WARNING: This report was first reported by Transcript Daily and is the property of of Transcript Daily. If you are viewing this report on another domain, it was copied illegally and reposted in violation of U.S. & international copyright law. The correct version of this report can be accessed at https://transcriptdaily.com/2017/09/15/legal-general-group-plc-has-3-63-million-holdings-in-itt-inc-itt.html.
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.
Receive News & Ratings for ITT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.