ITT Inc. (ITT) Shares Bought by Albert D Mason Inc.
Albert D Mason Inc. boosted its position in ITT Inc. (NYSE:ITT) by 27.5% during the second quarter, Holdings Channel reports. The institutional investor owned 38,659 shares of the conglomerate’s stock after buying an additional 8,330 shares during the period. ITT accounts for about 1.3% of Albert D Mason Inc.’s holdings, making the stock its 25th largest position. Albert D Mason Inc.’s holdings in ITT were worth $1,553,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in shares of ITT by 4.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,808 shares of the conglomerate’s stock worth $225,000 after buying an additional 260 shares during the period. Norges Bank bought a new stake in shares of ITT during the fourth quarter worth about $33,634,000. Quadrature Capital Ltd bought a new stake in shares of ITT during the fourth quarter worth about $382,000. Teachers Advisors LLC increased its stake in shares of ITT by 24.4% in the fourth quarter. Teachers Advisors LLC now owns 1,120,718 shares of the conglomerate’s stock worth $43,226,000 after buying an additional 219,763 shares during the period. Finally, Highbridge Capital Management LLC increased its stake in shares of ITT by 435.5% in the fourth quarter. Highbridge Capital Management LLC now owns 362,821 shares of the conglomerate’s stock worth $13,995,000 after buying an additional 295,066 shares during the period. Institutional investors own 92.59% of the company’s stock.
Shares of ITT Inc. (ITT) opened at 41.53 on Thursday. The stock has a 50 day moving average price of $40.31 and a 200-day moving average price of $40.62. ITT Inc. has a 52-week low of $31.08 and a 52-week high of $44.00. The firm has a market cap of $3.68 billion, a PE ratio of 19.14 and a beta of 1.47.
ITT (NYSE:ITT) last issued its earnings results on Monday, May 8th. The conglomerate reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. The firm had revenue of $625.80 million during the quarter, compared to the consensus estimate of $607.08 million. ITT had a net margin of 8.04% and a return on equity of 14.65%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. On average, equities analysts anticipate that ITT Inc. will post $2.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Monday, June 12th were paid a $0.128 dividend. The ex-dividend date was Thursday, June 8th. This represents a $0.51 annualized dividend and a yield of 1.23%. ITT’s dividend payout ratio is presently 23.50%.
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Several equities research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on ITT from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. BidaskClub downgraded ITT from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Tuesday, July 18th. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $46.00 to $43.00 in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $46.57.
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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