Airain ltd Invests $234,000 in ITT Inc. (ITT) Stock
Airain ltd acquired a new stake in ITT Inc. (NYSE:ITT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,834 shares of the conglomerate’s stock, valued at approximately $234,000.
A number of other large investors have also made changes to their positions in the business. Prudential Financial Inc. grew its stake in ITT by 273.4% in the 2nd quarter. Prudential Financial Inc. now owns 203,051 shares of the conglomerate’s stock valued at $8,159,000 after purchasing an additional 148,668 shares during the period. Twin Capital Management Inc. grew its stake in ITT by 9.5% in the 2nd quarter. Twin Capital Management Inc. now owns 72,150 shares of the conglomerate’s stock valued at $2,899,000 after purchasing an additional 6,250 shares during the period. Federated Investors Inc. PA grew its stake in ITT by 27.2% in the 2nd quarter. Federated Investors Inc. PA now owns 45,280 shares of the conglomerate’s stock valued at $1,819,000 after purchasing an additional 9,672 shares during the period. Marshall Wace North America L.P. grew its stake in ITT by 3,372.0% in the 2nd quarter. Marshall Wace North America L.P. now owns 217,385 shares of the conglomerate’s stock valued at $8,696,000 after purchasing an additional 211,124 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in ITT by 71.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 33,582 shares of the conglomerate’s stock valued at $1,349,000 after purchasing an additional 13,966 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.
A number of research analysts have recently commented on the company. BidaskClub cut ITT from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine cut ITT from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research cut ITT from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and dropped their price target for the company from $46.00 to $43.00 in a research report on Tuesday, June 6th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 price target on shares of ITT in a research report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.29.
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ITT Inc. (NYSE ITT) opened at 40.08 on Friday. ITT Inc. has a 12 month low of $32.46 and a 12 month high of $44.00. The stock’s 50 day moving average price is $40.39 and its 200-day moving average price is $40.33. The stock has a market cap of $3.53 billion, a PE ratio of 17.16 and a beta of 1.46.
ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $630.90 million during the quarter, compared to analyst estimates of $628.65 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. ITT’s revenue was up .8% compared to the same quarter last year. Analysts anticipate that ITT Inc. will post $2.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a $0.128 dividend. This represents a $0.51 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, September 8th. ITT’s payout ratio is currently 21.70%.
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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