Zurcher Kantonalbank Zurich Cantonalbank Has $132,000 Position in ITT Inc. (ITT)
Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ITT Inc. (NYSE:ITT) by 10.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,280 shares of the conglomerate’s stock after acquiring an additional 314 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ITT were worth $132,000 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 the stock. Pacer Advisors Inc. boosted its position in shares of ITT by 11.9% during the 2nd quarter. Pacer Advisors Inc. now owns 10,427 shares of the conglomerate’s stock worth $419,000 after acquiring an additional 1,109 shares in the last quarter. Airain ltd acquired a new stake in shares of ITT during the 2nd quarter worth approximately $234,000. Prudential Financial Inc. boosted its position in shares of ITT by 273.4% during the 2nd quarter. Prudential Financial Inc. now owns 203,051 shares of the conglomerate’s stock worth $8,159,000 after acquiring an additional 148,668 shares in the last quarter. Twin Capital Management Inc. boosted its position in shares of ITT by 9.5% during the 2nd quarter. Twin Capital Management Inc. now owns 72,150 shares of the conglomerate’s stock worth $2,899,000 after acquiring an additional 6,250 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its position in shares of ITT by 27.2% during the 2nd quarter. Federated Investors Inc. PA now owns 45,280 shares of the conglomerate’s stock worth $1,819,000 after acquiring an additional 9,672 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.
Several analysts recently issued reports on ITT shares. BidaskClub upgraded shares of ITT from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, July 18th. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) downgraded 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 reissued a “buy” rating and issued a $49.00 price objective on shares of ITT in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $46.75.
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ITT Inc. (NYSE:ITT) opened at 43.29 on Friday. ITT Inc. has a 1-year low of $32.46 and a 1-year high of $44.00. The stock’s 50 day moving average is $40.49 and its 200 day moving average is $40.30. The company has a market cap of $3.81 billion, a P/E ratio of 18.54 and a beta of 1.46.
ITT (NYSE:ITT) last announced 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 during the quarter, compared to analysts’ expectations of $628.65 million. During the same quarter in the prior year, the company earned $0.67 EPS. The firm’s revenue was up .8% on a year-over-year basis. Equities analysts anticipate that ITT Inc. will post $2.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be paid a $0.128 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.18%. ITT’s dividend payout ratio (DPR) is 21.70%.
In other news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by corporate insiders.
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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