Thrivent Financial For Lutherans Sells 192,098 Shares of ITT Inc. (ITT)
Thrivent Financial For Lutherans cut its holdings in ITT Inc. (NYSE:ITT) by 58.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 137,368 shares of the conglomerate’s stock after selling 192,098 shares during the quarter. Thrivent Financial For Lutherans owned 0.16% of ITT worth $5,519,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of ITT. Great West Life Assurance Co. Can grew its holdings in shares of ITT by 4.0% in the first quarter. Great West Life Assurance Co. Can now owns 52,033 shares of the conglomerate’s stock valued at $2,133,000 after purchasing an additional 2,005 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of ITT by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 1,121,451 shares of the conglomerate’s stock valued at $46,001,000 after purchasing an additional 42,053 shares in the last quarter. World Asset Management Inc grew its holdings in shares of ITT by 0.3% in the first quarter. World Asset Management Inc now owns 5,487 shares of the conglomerate’s stock valued at $225,000 after purchasing an additional 19 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of ITT by 20.0% in the first quarter. UBS Asset Management Americas Inc. now owns 69,398 shares of the conglomerate’s stock valued at $2,847,000 after purchasing an additional 11,580 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of ITT in the first quarter valued at $518,000. 92.59% of the stock is owned by hedge funds and other institutional investors.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was 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 available through this hyperlink. 1.20% of the stock is owned by corporate insiders.
ITT Inc. (ITT) opened at 44.43 on Monday. The firm’s 50-day moving average is $40.49 and its 200 day moving average is $40.30. ITT Inc. has a 1-year low of $32.46 and a 1-year high of $44.57. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 19.03 and a beta of 1.46.
ITT (NYSE:ITT) last issued its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $628.65 million. ITT had a return on equity of 14.17% and a net margin of 8.64%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 EPS. Equities analysts anticipate that ITT Inc. will post $2.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be issued a $0.128 dividend. This represents a $0.51 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, September 8th. ITT’s payout ratio is currently 21.70%.
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ITT has been the subject of a number of recent research reports. BidaskClub raised shares of ITT from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday, July 18th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) lowered shares of ITT from a “buy” rating to a “neutral” rating and cut their target price for the company from $46.00 to $43.00 in a report on Tuesday, June 6th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $49.00 target price on shares of ITT in a report on Wednesday, August 16th. Two 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 presently has an average rating of “Hold” and a consensus price target of $46.75.
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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