World Asset Management Inc Has $225,000 Position in ITT Inc. (ITT)

World Asset Management Inc raised its position in shares of ITT Inc. (NYSE:ITT) by 2.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,597 shares of the conglomerate’s stock after buying an additional 110 shares during the period. World Asset Management Inc’s holdings in ITT were worth $225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ITT. Timber Hill LLC acquired a new position in ITT during the first quarter worth approximately $201,000. Coastline Trust Co acquired a new position in ITT during the first quarter worth approximately $205,000. Raymond James Financial Services Advisors Inc. acquired a new position in ITT during the first quarter worth approximately $214,000. Stephens Inc. AR acquired a new position in ITT during the first quarter worth approximately $222,000. Finally, Janney Montgomery Scott LLC boosted its position in ITT by 4.8% in the first quarter. Janney Montgomery Scott LLC now owns 6,033 shares of the conglomerate’s stock worth $248,000 after buying an additional 277 shares in the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ITT Inc. (NYSE:ITT) opened at 39.10 on Friday. The firm’s 50-day moving average price is $40.94 and its 200 day moving average price is $40.50. ITT Inc. has a 12 month low of $32.46 and a 12 month high of $44.00. The company has a market cap of $3.44 billion, a PE ratio of 16.75 and a beta of 1.47.

ITT (NYSE:ITT) last announced its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $630.90 million for the quarter, compared to analyst estimates of $628.65 million. ITT had a return on equity of 14.17% and a net margin of 8.64%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 earnings per share. Equities research analysts anticipate that ITT Inc. will post $2.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders 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 1.31%. ITT’s dividend payout ratio (DPR) is 21.70%.

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ITT has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 target price on shares of ITT in a research note on Wednesday. Zacks Investment Research raised ITT from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Tuesday, July 18th. BidaskClub raised ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $46.00 to $43.00 in a research note on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $46.29.

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.

Institutional Ownership by Quarter for ITT (NYSE:ITT)

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