Mesirow Financial Investment Management Equity Management increased its stake in ITT Inc. (NYSE:ITT) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 578,390 shares of the conglomerate’s stock after buying an additional 29,315 shares during the period. ITT comprises about 1.6% of Mesirow Financial Investment Management Equity Management’s portfolio, making the stock its 7th largest position. Mesirow Financial Investment Management Equity Management owned approximately 0.65% of ITT worth $23,242,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in ITT. World Asset Management Inc increased its stake in ITT by 0.3% in the first quarter. World Asset Management Inc now owns 5,487 shares of the conglomerate’s stock worth $225,000 after buying an additional 19 shares in the last quarter. United Capital Financial Advisers LLC increased its stake in ITT by 0.6% in the first quarter. United Capital Financial Advisers LLC now owns 6,600 shares of the conglomerate’s stock worth $271,000 after buying an additional 42 shares in the last quarter. Baker Ellis Asset Management LLC increased its stake in ITT by 0.5% in the first quarter. Baker Ellis Asset Management LLC now owns 25,349 shares of the conglomerate’s stock worth $1,040,000 after buying an additional 125 shares in the last quarter. Albert D Mason Inc. increased its stake in ITT by 0.7% in the first quarter. Albert D Mason Inc. now owns 30,329 shares of the conglomerate’s stock worth $1,244,000 after buying an additional 200 shares in the last quarter. Finally, 1st Global Advisors Inc. increased its stake in ITT by 3.1% in the first quarter. 1st Global Advisors Inc. now owns 6,830 shares of the conglomerate’s stock worth $280,000 after buying an additional 206 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.
ITT Inc. (NYSE ITT) opened at 41.41 on Tuesday. The stock has a 50 day moving average of $40.52 and a 200 day moving average of $40.59. ITT Inc. has a 12 month low of $32.45 and a 12 month high of $44.00. The firm has a market capitalization of $3.67 billion, a PE ratio of 19.08 and a beta of 1.47.
ITT (NYSE:ITT) last released its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $0.67 earnings per share. ITT’s revenue was up .8% compared to the same quarter last year. On average, equities analysts predict that ITT Inc. will post $2.45 earnings per share for the current fiscal year.
A number of analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of ITT from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. BidaskClub downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) downgraded shares of ITT from a “buy” rating to a “neutral” rating and cut their price objective for the company from $46.00 to $43.00 in a report on Tuesday, June 6th. Finally, ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $46.57.
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.
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