Capital One National Association reduced its stake in shares of ITT Inc. (NYSE:ITT) by 23.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,897 shares of the conglomerate’s stock after selling 5,443 shares during the period. Capital One National Association’s holdings in ITT were worth $719,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in ITT by 6.1% in the first quarter. Vanguard Group Inc. now owns 7,940,146 shares of the conglomerate’s stock valued at $325,705,000 after buying an additional 454,454 shares in the last quarter. BlackRock Inc. raised its stake in ITT by 10,370.9% in the first quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock valued at $298,717,000 after buying an additional 7,212,684 shares in the last quarter. Janus Capital Management LLC raised its stake in ITT by 4.8% in the first quarter. Janus Capital Management LLC now owns 2,827,936 shares of the conglomerate’s stock valued at $116,002,000 after buying an additional 130,595 shares in the last quarter. FMR LLC raised its stake in ITT by 6.7% in the first quarter. FMR LLC now owns 2,524,190 shares of the conglomerate’s stock valued at $103,542,000 after buying an additional 159,163 shares in the last quarter. Finally, State Street Corp raised its stake in ITT by 1.2% in the first quarter. State Street Corp now owns 2,304,207 shares of the conglomerate’s stock valued at $94,518,000 after buying an additional 26,345 shares in the last quarter. Institutional investors own 92.58% of the company’s stock.
Shares of ITT Inc. (ITT) opened at 41.37 on Friday. ITT Inc. has a 52 week low of $30.91 and a 52 week high of $44.00. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 19.06 and a beta of 1.47. The firm’s 50-day moving average is $39.29 and its 200-day moving average is $40.48.
ITT (NYSE:ITT) last issued its quarterly earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. ITT had a return on equity of 14.65% and a net margin of 8.04%. The firm had revenue of $625.80 million during the quarter, compared to the consensus estimate of $607.08 million. During the same period last year, the company earned $0.59 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that ITT Inc. will post $2.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Monday, June 12th were issued a dividend of $0.128 per share. The ex-dividend date was Thursday, June 8th. This represents a $0.51 annualized dividend and a dividend yield of 1.24%. ITT’s payout ratio is presently 23.50%.
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Several analysts have recently weighed in on ITT shares. BidaskClub upgraded shares of ITT from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) lowered shares of 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. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Stifel Nicolaus boosted their price target on shares of ITT from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Finally, TheStreet upgraded shares of ITT from a “c+” rating to a “b” rating in a research note on Monday, March 27th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $46.67.
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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