Sei Investments Co. increased its stake in shares of ITT Inc. (NYSE:ITT) by 14.8% during the second quarter, Holdings Channel reports. The institutional investor owned 320,859 shares of the conglomerate’s stock after buying an additional 41,303 shares during the period. Sei Investments Co.’s holdings in ITT were worth $12,891,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITT. Texas Permanent School Fund raised its position in ITT by 1.4% in the second quarter. Texas Permanent School Fund now owns 64,734 shares of the conglomerate’s stock valued at $2,601,000 after buying an additional 876 shares in the last quarter. World Asset Management Inc raised its position in ITT by 2.0% in the second quarter. World Asset Management Inc now owns 5,597 shares of the conglomerate’s stock valued at $225,000 after buying an additional 110 shares in the last quarter. Rothschild Asset Management Inc. raised its position in ITT by 6.8% in the second quarter. Rothschild Asset Management Inc. now owns 437,103 shares of the conglomerate’s stock valued at $17,563,000 after buying an additional 27,943 shares in the last quarter. Channing Capital Management LLC raised its position in ITT by 271.6% in the second quarter. Channing Capital Management LLC now owns 564,125 shares of the conglomerate’s stock valued at $22,667,000 after buying an additional 412,332 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in ITT by 2.4% in the second quarter. Great West Life Assurance Co. Can now owns 53,283 shares of the conglomerate’s stock valued at $2,140,000 after buying an additional 1,250 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Shares of ITT Inc. (NYSE ITT) opened at 41.40 on Wednesday. The company has a market capitalization of $3.67 billion, a P/E ratio of 19.08 and a beta of 1.47. The firm has a 50-day moving average of $40.64 and a 200 day moving average of $40.59. ITT Inc. has a 52-week low of $32.46 and a 52-week high of $44.00.

ITT (NYSE:ITT) last posted its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. ITT had a net margin of 8.64% and a return on equity of 14.17%. The company had revenue of $630.90 million for the quarter, compared to the consensus estimate of $628.65 million. During the same period last year, the company earned $0.67 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, analysts anticipate that ITT Inc. will post $2.45 EPS for the current year.

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Several research analysts have weighed in on the stock. BidaskClub lowered shares of ITT from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Goldman Sachs Group, Inc. (The) lowered shares of ITT from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $46.00 to $43.00 in a research note on Tuesday, June 6th. Finally, Stifel Nicolaus upped their price objective on shares of ITT from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. ITT has an average rating of “Buy” and a consensus price target of $46.57.

ITT 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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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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