Northern Trust Corp Has $34.59 Million Position in ITT Inc (ITT)

Northern Trust Corp raised its stake in shares of ITT Inc (NYSE:ITT) by 0.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 706,165 shares of the conglomerate’s stock after purchasing an additional 1,016 shares during the period. Northern Trust Corp owned 0.80% of ITT worth $34,589,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Quantum Capital Management raised its position in ITT by 43.2% during the 1st quarter. Quantum Capital Management now owns 106,789 shares of the conglomerate’s stock worth $5,231,000 after purchasing an additional 32,197 shares during the last quarter. Paradice Investment Management LLC raised its position in ITT by 3.4% during the 1st quarter. Paradice Investment Management LLC now owns 1,665,843 shares of the conglomerate’s stock worth $81,543,000 after purchasing an additional 55,471 shares during the last quarter. Engineers Gate Manager LP raised its position in shares of ITT by 1,146.2% in the 1st quarter. Engineers Gate Manager LP now owns 59,580 shares of the conglomerate’s stock worth $2,918,000 after acquiring an additional 54,799 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of ITT by 13.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 597,973 shares of the conglomerate’s stock worth $29,289,000 after acquiring an additional 69,787 shares in the last quarter. Finally, Eaton Vance Management raised its position in shares of ITT by 811.7% in the 1st quarter. Eaton Vance Management now owns 764,779 shares of the conglomerate’s stock worth $37,459,000 after acquiring an additional 680,898 shares in the last quarter. 90.10% of the stock is owned by institutional investors and hedge funds.

In other ITT news, insider Denise L. Ramos sold 105,295 shares of ITT stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $52.74, for a total transaction of $5,553,258.30. Following the completion of the transaction, the insider now owns 359,400 shares in the company, valued at approximately $18,954,756. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria L. Creamer sold 7,640 shares of ITT stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $55.16, for a total value of $421,422.40. The disclosure for this sale can be found here. Insiders sold a total of 124,875 shares of company stock valued at $6,607,262 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.



Several research analysts have recently weighed in on the company. Robert W. Baird reissued a “buy” rating and issued a $64.00 price objective on shares of ITT in a research report on Wednesday, April 4th. KeyCorp lifted their price objective on ITT from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 13th. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Stifel Nicolaus reissued a “buy” rating and issued a $62.00 price objective (down from $63.00) on shares of ITT in a research report on Tuesday, February 20th. Finally, DA Davidson assumed coverage on ITT in a research report on Wednesday, March 21st. They issued a “buy” rating and a $60.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. ITT presently has a consensus rating of “Buy” and an average target price of $58.67.

Shares of ITT opened at $54.42 on Monday, Marketbeat Ratings reports. ITT Inc has a one year low of $38.29 and a one year high of $57.62. The stock has a market capitalization of $4.80 billion, a P/E ratio of 21.01, a PEG ratio of 1.61 and a beta of 1.55.

ITT (NYSE:ITT) last issued its earnings results on Friday, May 4th. The conglomerate reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. ITT had a return on equity of 14.98% and a net margin of 6.37%. The business had revenue of $689.30 million during the quarter, compared to analyst estimates of $680.75 million. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. equities analysts anticipate that ITT Inc will post 3.1 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Monday, June 11th will be given a $0.134 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Friday, June 8th. ITT’s payout ratio is 20.85%.

About ITT

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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