ITT Inc. (ITT) Stake Decreased by Teachers Advisors LLC
Teachers Advisors LLC decreased its position in shares of ITT Inc. (NYSE:ITT) by 32.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 759,964 shares of the conglomerate’s stock after selling 371,588 shares during the period. Teachers Advisors LLC owned about 0.86% of ITT worth $30,535,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ITT. Pinnacle Financial Partners Inc. acquired a new stake in shares of ITT during the second quarter worth approximately $105,000. Riverhead Capital Management LLC increased its holdings in shares of ITT by 57.0% during the second quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock worth $117,000 after buying an additional 1,059 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of ITT by 10.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock worth $132,000 after buying an additional 314 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of ITT during the first quarter worth approximately $214,000. Finally, Stephens Inc. AR acquired a new stake in shares of ITT during the first quarter worth approximately $222,000. 92.59% of the stock is owned by institutional investors.
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Shares of ITT Inc. (NYSE:ITT) opened at 43.20 on Wednesday. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 18.50 and a beta of 1.46. The company has a 50 day moving average of $40.49 and a 200-day moving average of $40.30. ITT Inc. has a one year low of $32.46 and a one year high of $44.00.
ITT (NYSE:ITT) last issued its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $628.65 million. During the same quarter in the prior year, the firm posted $0.67 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts expect that ITT Inc. will post $2.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be issued a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, September 8th. ITT’s dividend payout ratio (DPR) is presently 21.70%.
Several analysts have recently weighed in on the stock. BidaskClub lowered shares of ITT from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research lowered shares of ITT from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 price objective on shares of ITT in a report on Wednesday, August 16th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of 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 report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. ITT presently has an average rating of “Hold” and a consensus target price of $46.29.
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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