Tandem Investment Advisors Inc. decreased its position in ITT Inc. (NYSE:ITT) by 48.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 45,164 shares of the conglomerate’s stock after selling 42,835 shares during the period. Tandem Investment Advisors Inc. owned about 0.05% of ITT worth $1,815,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. United Capital Financial Advisers LLC boosted its stake in ITT by 0.6% in the 1st quarter. United Capital Financial Advisers LLC now owns 6,600 shares of the conglomerate’s stock worth $271,000 after purchasing an additional 42 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in ITT by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,940 shares of the conglomerate’s stock worth $520,000 after purchasing an additional 56 shares during the period. World Asset Management Inc boosted its stake in ITT by 2.0% in the 2nd quarter. World Asset Management Inc now owns 5,597 shares of the conglomerate’s stock worth $225,000 after purchasing an additional 110 shares during the period. Stephens Inc. AR boosted its stake in ITT by 2.4% in the 2nd quarter. Stephens Inc. AR now owns 5,532 shares of the conglomerate’s stock worth $222,000 after purchasing an additional 130 shares during the period. Finally, Synovus Financial Corp boosted its stake in ITT by 2.6% in the 2nd quarter. Synovus Financial Corp now owns 5,489 shares of the conglomerate’s stock worth $222,000 after purchasing an additional 138 shares during the period. 92.58% of the stock is owned by hedge funds and other institutional investors.
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In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.
ITT Inc. (ITT) traded up 0.76% during midday trading on Friday, hitting $46.25. 395,119 shares of the company traded hands. ITT Inc. has a 12-month low of $32.46 and a 12-month high of $46.76. The firm has a market capitalization of $4.07 billion, a PE ratio of 19.81 and a beta of 1.48. The stock’s 50-day moving average is $42.81 and its 200-day moving average is $40.88.
ITT (NYSE:ITT) last announced its earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $628.65 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Analysts anticipate that ITT Inc. will post $2.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, December 7th. ITT’s dividend payout ratio is currently 21.70%.
A number of equities analysts recently commented on ITT shares. BidaskClub raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Tuesday, July 18th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $49.00 price objective on shares of ITT in a research note on Wednesday, August 16th. Finally, Cowen and Company reissued a “buy” rating and set a $50.00 target price on shares of ITT in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.50.
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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