Utah Retirement Systems cut its holdings in ITT Inc. (NYSE:ITT – Get Rating) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,940 shares of the conglomerate’s stock after selling 200 shares during the quarter. Utah Retirement Systems’ holdings in ITT were worth $976,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ITT. Vanguard Group Inc. raised its position in shares of ITT by 0.3% in the third quarter. Vanguard Group Inc. now owns 7,763,977 shares of the conglomerate’s stock valued at $507,298,000 after purchasing an additional 20,326 shares during the period. Pathstone Family Office LLC bought a new position in shares of ITT in the third quarter valued at approximately $267,000. Prelude Capital Management LLC bought a new position in shares of ITT in the third quarter valued at approximately $344,000. Price T Rowe Associates Inc. MD raised its position in shares of ITT by 2.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 36,854 shares of the conglomerate’s stock valued at $2,409,000 after purchasing an additional 762 shares during the period. Finally, Putnam Investments LLC bought a new position in shares of ITT in the third quarter valued at approximately $2,804,000. 90.16% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. StockNews.com raised shares of ITT from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 28th. Stifel Nicolaus boosted their target price on shares of ITT from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, January 20th. Robert W. Baird boosted their target price on shares of ITT from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. KeyCorp boosted their target price on shares of ITT from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 10th. Finally, Citigroup boosted their target price on shares of ITT from $94.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, February 13th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.30.
ITT Price Performance
ITT (NYSE:ITT – Get Rating) last issued its earnings results on Thursday, February 9th. The conglomerate reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. ITT had a net margin of 12.28% and a return on equity of 17.63%. The company had revenue of $774.60 million for the quarter, compared to the consensus estimate of $766.82 million. During the same quarter in the previous year, the company earned $1.06 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts expect that ITT Inc. will post 4.81 EPS for the current fiscal year.
ITT Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Thursday, March 9th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Wednesday, March 8th. This is an increase from ITT’s previous quarterly dividend of $0.26. ITT’s payout ratio is currently 26.42%.
ITT Company Profile
ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions primarily for the transportation, industrial, and energy markets. It operates through the following segments: Motion Technologies, Industrial Process, Connect and Control Technologies, and Corporate and Other.
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