Jane Street Group LLC raised its holdings in shares of ITT Inc (NYSE:ITT) by 22.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,059 shares of the conglomerate’s stock after acquiring an additional 2,058 shares during the period. Jane Street Group LLC’s holdings in ITT were worth $578,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of ITT. California Public Employees Retirement System boosted its holdings in shares of ITT by 5.0% in the 1st quarter. California Public Employees Retirement System now owns 226,875 shares of the conglomerate’s stock worth $11,112,000 after purchasing an additional 10,767 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of ITT by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 384,879 shares of the conglomerate’s stock worth $18,851,000 after purchasing an additional 9,914 shares in the last quarter. Profund Advisors LLC boosted its holdings in shares of ITT by 9.3% in the 1st quarter. Profund Advisors LLC now owns 11,664 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 992 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of ITT by 56.2% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 18,006 shares of the conglomerate’s stock worth $882,000 after purchasing an additional 6,481 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of ITT by 144.3% in the 1st quarter. UBS Group AG now owns 135,338 shares of the conglomerate’s stock worth $6,629,000 after purchasing an additional 79,935 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Gordon Haskett assumed coverage on ITT in a research note on Friday. They issued a “buy” rating for the company. Zacks Investment Research lowered ITT from a “buy” rating to a “hold” rating in a research note on Wednesday. UBS Group boosted their target price on ITT from $57.00 to $60.00 and gave the company a “sell” rating in a research note on Thursday, August 30th. Seaport Global Securities reissued a “buy” rating and issued a $69.00 target price on shares of ITT in a research note on Tuesday, August 7th. Finally, DA Davidson set a $70.00 target price on ITT and gave the company a “buy” rating in a research note on Monday, August 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $66.13.
ITT (NYSE:ITT) last released its earnings results on Friday, August 3rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. ITT had a return on equity of 15.40% and a net margin of 7.02%. The company had revenue of $696.80 million during the quarter, compared to analyst estimates of $685.80 million. During the same quarter in the previous year, the company posted $0.55 EPS. ITT’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts expect that ITT Inc will post 3.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were given a dividend of $0.134 per share. This represents a $0.54 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Friday, September 7th. ITT’s payout ratio is 20.85%.
ITT Company Profile
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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