Artemis Investment Management LLP Grows Holdings in ITT Inc (ITT)
Artemis Investment Management LLP grew its holdings in ITT Inc (NYSE:ITT) by 2.6% during the third quarter, HoldingsChannel reports. The firm owned 298,387 shares of the conglomerate’s stock after acquiring an additional 7,587 shares during the period. Artemis Investment Management LLP’s holdings in ITT were worth $18,278,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its stake in ITT by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 34,248 shares of the conglomerate’s stock worth $1,790,000 after purchasing an additional 986 shares in the last quarter. Arizona State Retirement System raised its position in shares of ITT by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 60,680 shares of the conglomerate’s stock valued at $3,172,000 after buying an additional 1,140 shares during the period. Aperio Group LLC raised its position in shares of ITT by 10.0% during the 3rd quarter. Aperio Group LLC now owns 18,900 shares of the conglomerate’s stock valued at $1,158,000 after buying an additional 1,722 shares during the period. Jane Street Group LLC raised its position in shares of ITT by 22.9% during the 2nd quarter. Jane Street Group LLC now owns 11,059 shares of the conglomerate’s stock valued at $578,000 after buying an additional 2,058 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of ITT during the 3rd quarter valued at approximately $128,000. 89.47% of the stock is currently owned by institutional investors and hedge funds.
ITT stock opened at $53.78 on Wednesday. The company has a market cap of $4.92 billion, a PE ratio of 20.76, a PEG ratio of 1.45 and a beta of 1.71. ITT Inc has a one year low of $46.10 and a one year high of $63.04.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be issued a $0.134 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.54 annualized dividend and a yield of 1.00%. ITT’s dividend payout ratio (DPR) is presently 20.85%.
ITT has been the topic of several analyst reports. Oppenheimer reaffirmed a “buy” rating and set a $67.00 price target (up previously from $60.00) on shares of ITT in a research report on Friday, August 3rd. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Wednesday, August 8th. ValuEngine lowered shares of ITT from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Stifel Nicolaus lifted their price target on shares of ITT from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, August 6th. Finally, Gordon Haskett initiated coverage on shares of ITT in a research report on Friday, October 12th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $66.38.
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ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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