Kanawha Capital Management LLC Continues to Hold Stake in ITT Corp. (ITT)
Kanawha Capital Management LLC held its position in shares of ITT Corp. (NYSE:ITT) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,795 shares of the company’s stock at the end of the second quarter. Kanawha Capital Management LLC’s holdings in ITT Corp. were worth $217,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ITT. IBM Retirement Fund increased its position in shares of ITT Corp. by 0.4% in the second quarter. IBM Retirement Fund now owns 9,123 shares of the company’s stock valued at $292,000 after buying an additional 34 shares during the period. Jensen Investment Management Inc. increased its position in shares of ITT Corp. by 3.9% in the second quarter. Jensen Investment Management Inc. now owns 11,750 shares of the company’s stock valued at $376,000 after buying an additional 440 shares during the period. Creative Planning increased its position in shares of ITT Corp. by 10.5% in the second quarter. Creative Planning now owns 5,293 shares of the company’s stock valued at $169,000 after buying an additional 501 shares during the period. Oakbrook Investments LLC increased its position in shares of ITT Corp. by 6.9% in the second quarter. Oakbrook Investments LLC now owns 9,300 shares of the company’s stock valued at $297,000 after buying an additional 600 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of ITT Corp. by 0.7% in the second quarter. Retirement Systems of Alabama now owns 116,226 shares of the company’s stock valued at $3,717,000 after buying an additional 819 shares during the period. Institutional investors and hedge funds own 89.37% of the company’s stock.
Shares of ITT Corp. (NYSE:ITT) traded down 0.23% during mid-day trading on Friday, hitting $34.04. 339,446 shares of the company’s stock were exchanged. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 12.94 and a beta of 1.28. The firm has a 50 day moving average price of $35.42 and a 200-day moving average price of $35.08. ITT Corp. has a 52 week low of $29.15 and a 52 week high of $40.52.
ITT Corp. (NYSE:ITT) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm had revenue of $626.20 million for the quarter, compared to analyst estimates of $620.12 million. ITT Corp. had a net margin of 9.49% and a return on equity of 16.02%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. On average, equities analysts anticipate that ITT Corp. will post $2.40 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were given a dividend of $0.124 per share. This represents a $0.50 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Wednesday, September 7th. ITT Corp.’s payout ratio is presently 19.01%.
Several research analysts have recently weighed in on the stock. Barclays PLC decreased their target price on shares of ITT Corp. from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Zacks Investment Research downgraded shares of ITT Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. KeyCorp restated a “sector weight” rating on shares of ITT Corp. in a research note on Wednesday, June 29th. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of ITT Corp. in a research note on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. ITT Corp. currently has an average rating of “Hold” and an average price target of $41.43.
ITT Corp. Company Profile
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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