UBS Oconnor LLC increased its stake in ITT Inc. (NYSE:ITT) by 88.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 199,500 shares of the conglomerate’s stock after buying an additional 93,505 shares during the period. UBS Oconnor LLC owned about 0.22% of ITT worth $8,183,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in ITT by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,524,124 shares of the conglomerate’s stock valued at $58,785,000 after buying an additional 64,851 shares during the period. FMR LLC raised its position in ITT by 13.5% in the fourth quarter. FMR LLC now owns 2,365,027 shares of the conglomerate’s stock valued at $91,220,000 after buying an additional 280,981 shares during the period. Trexquant Investment LP bought a new position in ITT during the fourth quarter valued at $409,000. Elkfork Partners LLC bought a new position in ITT during the fourth quarter valued at $185,000. Finally, Pacad Investment Ltd. raised its position in ITT by 47.7% in the fourth quarter. Pacad Investment Ltd. now owns 6,500 shares of the conglomerate’s stock valued at $251,000 after buying an additional 2,100 shares during the period. 92.58% of the stock is currently owned by hedge funds and other institutional investors.
ITT Inc. (NYSE:ITT) traded up 1.06% on Tuesday, hitting $39.17. The company had a trading volume of 297,720 shares. The stock has a market capitalization of $3.47 billion, a PE ratio of 18.05 and a beta of 1.35. 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 $39.86 and a 200-day moving average of $40.60.
ITT (NYSE:ITT) last released its earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.04. The business had revenue of $625.80 million during the quarter, compared to the consensus estimate of $607.08 million. ITT had a return on equity of 14.65% and a net margin of 8.04%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.59 earnings per share. Equities analysts anticipate that ITT Inc. will post $2.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 12th will be given a dividend of $0.128 per share. This represents a $0.51 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, June 8th. ITT’s payout ratio is 23.50%.
ITT has been the topic of several recent analyst reports. TheStreet raised ITT from a “c+” rating to a “b” rating in a research report on Monday, March 27th. Stifel Nicolaus boosted their price target on ITT from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) lowered ITT from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $46.00 to $43.00 in a research report on Tuesday, June 6th. Finally, BidaskClub raised ITT from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target 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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