Ajo LP Acquires New Position in ITT Inc. (ITT)

Ajo LP acquired a new position in shares of ITT Inc. (NYSE:ITT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,223 shares of the conglomerate’s stock, valued at approximately $2,500,000. Ajo LP owned about 0.07% of ITT at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ITT. Pinnacle Financial Partners Inc. bought a new stake in ITT during the second quarter worth about $105,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 valued at $132,000 after purchasing an additional 314 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of ITT during the first quarter valued at approximately $214,000. Stephens Inc. AR bought a new stake in shares of ITT during the first quarter valued at approximately $222,000. Finally, Synovus Financial Corp grew its stake 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 purchasing an additional 138 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Inc. (ITT) opened at 42.64 on Tuesday. ITT Inc. has a 52 week low of $32.46 and a 52 week high of $44.00. The firm has a 50-day moving average of $40.42 and a 200-day moving average of $40.29. The company has a market capitalization of $3.75 billion, a PE ratio of 18.26 and a beta of 1.46.

ITT (NYSE:ITT) last posted its 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 firm had revenue of $630.90 million for the quarter, compared to analyst estimates of $628.65 million. During the same period in the previous year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts expect that ITT Inc. will post $2.46 earnings per share for the current fiscal year.

The company 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. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, September 8th. ITT’s dividend payout ratio is currently 21.70%.

Several analysts have recently commented on the stock. BidaskClub cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Stifel Nicolaus reissued a “buy” rating and set a $49.00 price target on shares of ITT in a research note on Wednesday, August 16th. Zacks Investment Research cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) cut shares of ITT from a “buy” rating to a “neutral” rating and decreased their price target for the company from $46.00 to $43.00 in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.29.

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About ITT

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.

Institutional Ownership by Quarter for ITT (NYSE:ITT)

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