ITT Corp. (ITT) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. increased its position in ITT Corp. (NYSE:ITT) by 4.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,087,764 shares of the company’s stock after buying an additional 317,540 shares during the period. Vanguard Group Inc. owned approximately 7.89% of ITT Corp. worth $226,666,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Mesirow Financial Investment Management Equity Management bought a new position in ITT Corp. during the second quarter worth $20,020,000. JPMorgan Chase & Co. boosted its position in ITT Corp. by 143.8% in the first quarter. JPMorgan Chase & Co. now owns 431,399 shares of the company’s stock worth $15,914,000 after buying an additional 254,469 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in ITT Corp. by 63.9% in the second quarter. Chartwell Investment Partners LLC now owns 479,250 shares of the company’s stock worth $15,326,000 after buying an additional 186,770 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in ITT Corp. during the second quarter worth $4,529,000. Finally, Dimensional Fund Advisors LP boosted its position in ITT Corp. by 10.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,344,580 shares of the company’s stock worth $42,999,000 after buying an additional 128,932 shares in the last quarter. Institutional investors own 89.37% of the company’s stock.
Shares of ITT Corp. (NYSE:ITT) opened at 34.07 on Friday. ITT Corp. has a one year low of $29.15 and a one year high of $40.52. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 12.95 and a beta of 1.28. The company has a 50 day moving average of $35.36 and a 200-day moving average of $35.06.
ITT Corp. (NYSE:ITT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. ITT Corp. had a net margin of 9.49% and a return on equity of 16.02%. The firm had revenue of $626.20 million for the quarter, compared to analyst estimates of $620.12 million. During the same period last year, the firm posted $0.69 EPS. ITT Corp.’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts anticipate that ITT Corp. will post $2.40 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were issued a $0.124 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Wednesday, September 7th. ITT Corp.’s dividend payout ratio (DPR) is currently 19.01%.
A number of equities analysts have weighed in on ITT shares. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of ITT Corp. in a research report on Tuesday, August 23rd. Barclays PLC reduced their price objective on shares of ITT Corp. from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Zacks Investment Research cut shares of ITT Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of ITT Corp. in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $41.43.
About ITT Corp.
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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