Psagot Investment House Ltd. lowered its holdings in ITT Inc (NYSE:ITT) by 32.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,071 shares of the conglomerate’s stock after selling 5,289 shares during the quarter. Psagot Investment House Ltd.’s holdings in ITT were worth $642,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of ITT. Vanguard Group Inc lifted its holdings in ITT by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 8,447,321 shares of the conglomerate’s stock worth $517,482,000 after buying an additional 125,376 shares during the last quarter. Vanguard Group Inc. lifted its holdings in ITT by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,447,321 shares of the conglomerate’s stock worth $517,482,000 after buying an additional 125,376 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in ITT by 0.9% during the 4th quarter. Macquarie Group Ltd. now owns 2,691,318 shares of the conglomerate’s stock worth $129,910,000 after buying an additional 24,311 shares during the last quarter. Boston Partners lifted its holdings in shares of ITT by 18.0% in the 4th quarter. Boston Partners now owns 2,658,607 shares of the conglomerate’s stock valued at $128,331,000 after purchasing an additional 405,815 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of ITT by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,691,522 shares of the conglomerate’s stock valued at $81,647,000 after purchasing an additional 138,213 shares during the last quarter. 90.99% of the stock is owned by institutional investors and hedge funds.
Shares of ITT traded down $0.76 on Wednesday, reaching $59.36. The stock had a trading volume of 232,680 shares, compared to its average volume of 548,051. The stock has a market cap of $5.19 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.84 and a beta of 1.63. ITT Inc has a twelve month low of $44.89 and a twelve month high of $63.54.
ITT (NYSE:ITT) last announced its earnings results on Friday, May 3rd. The conglomerate reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $695.50 million for the quarter, compared to analysts’ expectations of $682.49 million. ITT had a return on equity of 16.69% and a net margin of 11.04%. ITT’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, equities analysts expect that ITT Inc will post 3.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be paid a dividend of $0.147 per share. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.99%. ITT’s dividend payout ratio is presently 18.27%.
ITT has been the subject of several research reports. UBS Group raised ITT from a “sell” rating to a “neutral” rating and boosted their target price for the company from $48.00 to $60.00 in a 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 for the company in a report on Wednesday, May 8th. Stifel Nicolaus upped their price objective on ITT from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer set a $68.00 price objective on ITT and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, ValuEngine raised ITT from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $67.13.
In related news, CFO Thomas M. Scalera sold 64,135 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.57, for a total value of $3,948,791.95. Following the transaction, the chief financial officer now directly owns 73,701 shares of the company’s stock, valued at approximately $4,537,770.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Farrokh Batliwala sold 8,950 shares of the stock in a transaction on Monday, May 6th. The stock was 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. Corporate insiders own 1.00% of the company’s stock.
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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