Trexquant Investment LP boosted its position in ITT Inc. (NYSE:ITT) by 85.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,357 shares of the conglomerate’s stock after buying an additional 6,157 shares during the period. Trexquant Investment LP’s holdings in ITT were worth $537,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Mesirow Financial Investment Management Equity Management raised its stake in shares of ITT by 5.3% in the second quarter. Mesirow Financial Investment Management Equity Management now owns 578,390 shares of the conglomerate’s stock worth $23,242,000 after buying an additional 29,315 shares during the period. Nine Chapters Capital Management LLC raised its stake in shares of ITT by 128.6% in the second quarter. Nine Chapters Capital Management LLC now owns 12,800 shares of the conglomerate’s stock worth $514,000 after buying an additional 7,200 shares during the period. Sei Investments Co. raised its stake in shares of ITT by 14.8% in the second quarter. Sei Investments Co. now owns 320,859 shares of the conglomerate’s stock worth $12,891,000 after buying an additional 41,303 shares during the period. Texas Permanent School Fund raised its stake in shares of ITT by 1.4% in the second quarter. Texas Permanent School Fund now owns 64,734 shares of the conglomerate’s stock worth $2,601,000 after buying an additional 876 shares during the period. Finally, World Asset Management Inc raised its stake in shares of ITT by 2.0% in the second quarter. World Asset Management Inc now owns 5,597 shares of the conglomerate’s stock worth $225,000 after buying an additional 110 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of ITT Inc. (NYSE ITT) opened at 40.19 on Friday. The stock’s 50 day moving average is $40.82 and its 200-day moving average is $40.58. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 17.21 and a beta of 1.47. ITT Inc. has a 52 week low of $32.46 and a 52 week high of $44.00.
ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The firm had revenue of $630.90 million during the quarter, compared to analyst estimates of $628.65 million. ITT had a net margin of 8.64% and a return on equity of 14.17%. ITT’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. On average, equities analysts anticipate that ITT Inc. will post $2.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be given a $0.128 dividend. This represents a $0.51 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, September 8th. ITT’s payout ratio is currently 21.70%.
A number of brokerages have recently weighed in on ITT. BidaskClub lowered shares of ITT from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Goldman Sachs Group, Inc. (The) lowered shares of ITT from a “buy” rating to a “neutral” rating and cut their target price for the company from $46.00 to $43.00 in a research note on Tuesday, June 6th. Finally, Stifel Nicolaus lifted their target price 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. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $46.57.
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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