ITT Inc. (ITT) Position Lowered by SeaBridge Investment Advisors LLC
SeaBridge Investment Advisors LLC lowered its position in ITT Inc. (NYSE:ITT) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 158,870 shares of the conglomerate’s stock after selling 4,237 shares during the period. ITT comprises 1.6% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 18th largest position. SeaBridge Investment Advisors LLC’s holdings in ITT were worth $6,517,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of ITT by 3.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,378 shares of the conglomerate’s stock worth $131,000 after buying an additional 120 shares during the period. Tyers Asset Management LLC acquired a new stake in shares of ITT during the fourth quarter worth about $135,000. Advisor Group Inc. increased its stake in shares of ITT by 40.7% in the third quarter. Advisor Group Inc. now owns 3,852 shares of the conglomerate’s stock worth $138,000 after buying an additional 1,114 shares during the period. Elkfork Partners LLC acquired a new stake in shares of ITT during the fourth quarter worth about $185,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of ITT by 154.1% in the third quarter. Tower Research Capital LLC TRC now owns 5,457 shares of the conglomerate’s stock worth $196,000 after buying an additional 3,309 shares during the period. 91.15% of the stock is owned by institutional investors.
ITT Inc. (NYSE:ITT) traded up 0.08% during mid-day trading on Tuesday, hitting $39.28. The stock had a trading volume of 584,266 shares. The company has a 50 day moving average price of $40.31 and a 200 day moving average price of $39.37. ITT Inc. has a one year low of $30.06 and a one year high of $44.00. The stock has a market cap of $3.47 billion, a P/E ratio of 19.00 and a beta of 1.39.
ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, February 14th. The conglomerate reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The firm had revenue of $588 million for the quarter, compared to the consensus estimate of $551.89 million. ITT had a net margin of 7.93% and a return on equity of 15.41%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. On average, equities analysts anticipate that ITT Inc. will post $2.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Monday, March 13th were paid a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a yield of 1.30%. This is an increase from ITT’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 9th. ITT’s dividend payout ratio is presently 22.94%.
ILLEGAL ACTIVITY WARNING: This news story was posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another website, it was stolen and republished in violation of U.S. & international copyright laws. The correct version of this news story can be read at http://www.dailypolitical.com/2017/04/18/itt-inc-itt-position-lowered-by-seabridge-investment-advisors-llc.html.
A number of analysts have issued reports on ITT shares. TheStreet raised ITT from a “c+” rating to a “b” rating in a report on Monday, March 27th. Stifel Nicolaus lifted their target price on ITT from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, February 15th. Barclays PLC reiterated a “buy” rating and set a $49.00 target price on shares of ITT in a research report on Wednesday, January 18th. Bank of America Corp upgraded ITT from a “neutral” rating to a “buy” rating in a research report on Monday, January 9th. Finally, CIBC upgraded ITT from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 16th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. ITT currently has an average rating of “Buy” and a consensus target price of $45.57.
In other ITT news, insider Aris C. Chicles sold 23,650 shares of the stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $43.31, for a total transaction of $1,024,281.50. Following the sale, the insider now directly owns 63,550 shares in the company, valued at $2,752,350.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Denise L. Ramos sold 50,000 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $41.35, for a total transaction of $2,067,500.00. Following the sale, the chief executive officer now owns 308,032 shares in the company, valued at $12,737,123.20. The disclosure for this sale can be found here. Insiders have sold 176,739 shares of company stock worth $7,318,431 over the last quarter. Corporate insiders own 1.60% of the company’s stock.
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.
Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT).
Receive News & Ratings for ITT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.