Parametric Portfolio Associates LLC Has $9.51 Million Stake in ITT Inc. (ITT)
Parametric Portfolio Associates LLC grew its position in shares of ITT Inc. (NYSE:ITT) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 236,630 shares of the conglomerate’s stock after acquiring an additional 12,998 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.27% of ITT worth $9,508,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. United Capital Financial Advisers LLC boosted its holdings in shares of ITT by 0.6% during the first quarter. United Capital Financial Advisers LLC now owns 6,600 shares of the conglomerate’s stock valued at $271,000 after acquiring an additional 42 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of ITT by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,940 shares of the conglomerate’s stock valued at $520,000 after acquiring an additional 56 shares during the period. World Asset Management Inc boosted its holdings in shares of ITT by 2.0% during the second quarter. World Asset Management Inc now owns 5,597 shares of the conglomerate’s stock valued at $225,000 after acquiring an additional 110 shares during the period. Stephens Inc. AR boosted its holdings in shares of ITT by 2.4% during the second quarter. Stephens Inc. AR now owns 5,532 shares of the conglomerate’s stock valued at $222,000 after acquiring an additional 130 shares during the period. Finally, Synovus Financial Corp boosted its holdings in shares of ITT by 2.6% during the second quarter. Synovus Financial Corp now owns 5,489 shares of the conglomerate’s stock valued at $222,000 after acquiring an additional 138 shares during the period. 92.58% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on ITT shares. BidaskClub raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Tuesday, July 18th. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Stifel Nicolaus restated a “buy” rating and set a $49.00 price objective on shares of ITT in a research note on Wednesday, August 16th. Finally, Cowen and Company restated a “buy” rating and set a $50.00 price objective on shares of ITT in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $48.50.
Shares of ITT Inc. (NYSE ITT) opened at 46.25 on Friday. The firm has a 50-day moving average of $42.81 and a 200 day moving average of $40.88. ITT Inc. has a 12 month low of $32.46 and a 12 month high of $46.76. The company has a market capitalization of $4.07 billion, a PE ratio of 19.81 and a beta of 1.48.
ITT (NYSE:ITT) last posted its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. ITT had a return on equity of 14.17% and a net margin of 8.64%. The business had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $628.65 million. During the same quarter last year, the business earned $0.67 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts expect that ITT Inc. will post $2.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a $0.128 dividend. This represents a $0.51 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, December 7th. ITT’s payout ratio is 21.70%.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total value of $214,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was published by Daily Political and is the property of of Daily Political. If you are accessing this report on another publication, it was stolen and republished in violation of international copyright & trademark laws. The original version of this report can be viewed at https://www.dailypolitical.com/2017/10/14/parametric-portfolio-associates-llc-has-9-51-million-stake-in-itt-inc-itt.html.
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.
Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT).
Receive News & Ratings for ITT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.