Shelton Capital Management Buys New Holdings in ITT Inc. (ITT)
Shelton Capital Management bought a new position in shares of ITT Inc. (NYSE:ITT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,716 shares of the conglomerate’s stock, valued at approximately $270,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. grew its holdings in ITT by 13.3% during the second quarter. Macquarie Group Ltd. now owns 2,207,328 shares of the conglomerate’s stock worth $88,690,000 after acquiring an additional 259,207 shares during the period. AHL Partners LLP grew its holdings in ITT by 3.0% during the second quarter. AHL Partners LLP now owns 88,321 shares of the conglomerate’s stock worth $3,549,000 after acquiring an additional 2,593 shares during the period. Petrus Trust Company LTA grew its holdings in ITT by 3.8% during the second quarter. Petrus Trust Company LTA now owns 6,861 shares of the conglomerate’s stock worth $276,000 after acquiring an additional 252 shares during the period. Numeric Investors LLC grew its holdings in ITT by 2,005.2% during the second quarter. Numeric Investors LLC now owns 362,100 shares of the conglomerate’s stock worth $14,549,000 after acquiring an additional 344,900 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in ITT by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,739,927 shares of the conglomerate’s stock worth $69,909,000 after acquiring an additional 63,916 shares during the period. 92.58% of the stock is currently owned by hedge funds and other institutional investors.
ITT Inc. (NYSE ITT) opened at 46.25 on Monday. ITT Inc. has a 52 week low of $32.46 and a 52 week high of $46.76. The company has a 50-day moving average price of $42.91 and a 200-day moving average price of $40.89. The stock has a market cap of $4.07 billion, a PE ratio of 19.81 and a beta of 1.48.
ITT (NYSE:ITT) last released its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $630.90 million during the quarter, compared to the consensus estimate of $628.65 million. ITT had a return on equity of 14.17% and a net margin of 8.64%. The firm’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. Analysts anticipate that ITT Inc. will post $2.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a $0.128 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.51 dividend on an annualized basis and a yield of 1.11%. ITT’s dividend payout ratio is presently 21.70%.
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In related news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the company’s 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 filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.
ITT has been the topic of a number of research analyst reports. BidaskClub raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 target price on shares of ITT in a report on Wednesday, August 16th. Zacks Investment Research lowered ITT from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Deutsche Bank AG raised ITT from a “hold” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $55.00 in a report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $48.50.
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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