Federated Investors Inc. PA Acquires 9,672 Shares of ITT Inc. (ITT)

Federated Investors Inc. PA raised its holdings in ITT Inc. (NYSE:ITT) by 27.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 45,280 shares of the conglomerate’s stock after acquiring an additional 9,672 shares during the quarter. Federated Investors Inc. PA owned approximately 0.05% of ITT worth $1,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. World Asset Management Inc increased its position in ITT by 0.3% in the 1st quarter. World Asset Management Inc now owns 5,487 shares of the conglomerate’s stock valued at $225,000 after acquiring an additional 19 shares during the period. United Capital Financial Advisers LLC increased its position in ITT by 0.6% in the 1st quarter. United Capital Financial Advisers LLC now owns 6,600 shares of the conglomerate’s stock valued at $271,000 after acquiring an additional 42 shares during the period. 1st Global Advisors Inc. increased its position in ITT by 3.1% in the 1st quarter. 1st Global Advisors Inc. now owns 6,830 shares of the conglomerate’s stock valued at $280,000 after acquiring an additional 206 shares during the period. Teacher Retirement System of Texas increased its position in ITT by 3.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,197 shares of the conglomerate’s stock valued at $289,000 after acquiring an additional 249 shares during the period. Finally, Capstone Asset Management Co. increased its position in ITT by 4.2% in the 2nd quarter. Capstone Asset Management Co. now owns 6,625 shares of the conglomerate’s stock valued at $266,000 after acquiring an additional 270 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Shares of ITT Inc. (ITT) opened at 40.08 on Monday. ITT Inc. has a 52-week low of $32.46 and a 52-week high of $44.00. The firm has a market capitalization of $3.53 billion, a PE ratio of 17.16 and a beta of 1.46. The stock’s 50 day moving average is $40.39 and its 200 day moving average is $40.33.

ITT (NYSE:ITT) last posted its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. ITT had a net margin of 8.64% and a return on equity of 14.17%. The company had revenue of $630.90 million during the quarter, compared to analyst estimates of $628.65 million. During the same period in the prior year, the business posted $0.67 EPS. The firm’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts forecast that ITT Inc. will post $2.46 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a dividend of $0.128 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.51 dividend on an annualized basis and a yield of 1.28%. ITT’s dividend payout ratio is currently 21.70%.

ITT has been the subject of several recent research reports. Goldman Sachs Group, Inc. (The) cut 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 report on Tuesday, June 6th. BidaskClub upgraded shares of ITT from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Tuesday, July 18th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $49.00 price target on shares of ITT in a research report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $46.29.

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About ITT

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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