ITT Inc. (ITT) Position Lowered by UBS Group AG
UBS Group AG reduced its stake in shares of ITT Inc. (NYSE:ITT) by 15.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,252 shares of the conglomerate’s stock after selling 5,892 shares during the period. UBS Group AG’s holdings in ITT were worth $1,364,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. 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 valued at $131,000 after buying an additional 120 shares during the period. Timber Hill LLC purchased a new stake in shares of ITT during the first quarter valued at about $201,000. Coastline Trust Co purchased a new stake in shares of ITT during the first quarter valued at about $205,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of ITT during the first quarter valued at about $214,000. Finally, Stephens Inc. AR purchased a new stake in shares of ITT during the first quarter valued at about $222,000. 92.58% of the stock is owned by institutional investors.
Shares of ITT Inc. (ITT) opened at 41.33 on Friday. ITT Inc. has a 52-week low of $30.06 and a 52-week high of $44.00. The stock’s 50 day moving average is $39.29 and its 200-day moving average is $40.48. The firm has a market cap of $3.67 billion, a P/E ratio of 19.05 and a beta of 1.47.
ITT (NYSE:ITT) last issued its quarterly earnings results on Monday, May 8th. The conglomerate reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The company had revenue of $625.80 million for the quarter, compared to the consensus estimate of $607.08 million. ITT had a return on equity of 14.65% and a net margin of 8.04%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS. Equities analysts anticipate that ITT Inc. will post $2.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Monday, June 12th were given a $0.128 dividend. This represents a $0.51 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, June 8th. ITT’s dividend payout ratio is currently 23.50%.
Several analysts have issued reports on the stock. BidaskClub raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. TheStreet raised shares of ITT from a “c+” rating to a “b” rating in a research report on Monday, March 27th. Stifel Nicolaus raised their price target on shares of ITT from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of ITT from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $46.00 to $43.00 in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $46.67.
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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