Legal & General Group Plc Has $3.63 Million Holdings in ITT Inc. (ITT)

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%.

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About ITT

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.

Institutional Ownership by Quarter for ITT (NYSE:ITT)

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