ITT Inc (ITT) Stake Lifted by ETF Managers Group LLC
ETF Managers Group LLC grew its position in shares of ITT Inc (NYSE:ITT) by 10.3% in the first quarter, HoldingsChannel reports. The firm owned 2,937 shares of the conglomerate’s stock after purchasing an additional 274 shares during the period. ETF Managers Group LLC’s holdings in ITT were worth $170,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its holdings in shares of ITT by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 8,447,321 shares of the conglomerate’s stock worth $517,482,000 after acquiring an additional 125,376 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of ITT by 0.9% during the 4th quarter. Macquarie Group Ltd. now owns 2,691,318 shares of the conglomerate’s stock worth $129,910,000 after acquiring an additional 24,311 shares during the last quarter. Boston Partners lifted its holdings in shares of ITT by 18.0% during the 4th quarter. Boston Partners now owns 2,658,607 shares of the conglomerate’s stock worth $128,331,000 after acquiring an additional 405,815 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of ITT by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,691,522 shares of the conglomerate’s stock worth $81,647,000 after acquiring an additional 138,213 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of ITT by 4,727.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,673,955 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 1,639,276 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.
ITT stock opened at $57.96 on Friday. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.85 and a beta of 1.63. ITT Inc has a twelve month low of $44.89 and a twelve month high of $63.54.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be paid a $0.147 dividend. This represents a $0.59 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, June 7th. ITT’s dividend payout ratio is presently 18.27%.
A number of analysts have recently issued reports on ITT shares. Oppenheimer set a $68.00 price objective on shares of ITT and gave the stock a “buy” rating in a report on Sunday, February 24th. Zacks Investment Research downgraded shares of ITT from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. UBS Group raised shares of ITT from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $48.00 to $60.00 in a report on Thursday, February 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price objective on shares of ITT in a report on Friday, February 22nd. Finally, ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $67.13.
In other ITT news, CFO Thomas M. Scalera sold 64,135 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.57, for a total value of $3,948,791.95. Following the completion of the sale, the chief financial officer now directly owns 73,701 shares of the company’s stock, valued at $4,537,770.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Farrokh Batliwala sold 8,950 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.38, for a total transaction of $549,351.00. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
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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: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.
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