Deprince Race & Zollo Inc. lowered its position in shares of ITT Inc. (NYSE:ITT) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,143,552 shares of the conglomerate’s stock after selling 50,794 shares during the period. ITT makes up approximately 0.9% of Deprince Race & Zollo Inc.’s holdings, making the stock its 18th largest position. Deprince Race & Zollo Inc. owned about 1.29% of ITT worth $45,948,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of ITT. Oregon Public Employees Retirement Fund increased its position in ITT by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 31,084 shares of the conglomerate’s stock worth $1,275,000 after buying an additional 400 shares in the last quarter. Punch & Associates Investment Management Inc. increased its position in ITT by 1.2% in the first quarter. Punch & Associates Investment Management Inc. now owns 48,788 shares of the conglomerate’s stock worth $2,001,000 after buying an additional 597 shares in the last quarter. Russell Investments Group Ltd. increased its position in ITT by 32.9% in the first quarter. Russell Investments Group Ltd. now owns 554,419 shares of the conglomerate’s stock worth $22,743,000 after buying an additional 137,337 shares in the last quarter. Janney Montgomery Scott LLC increased its position in ITT by 4.8% in the first quarter. Janney Montgomery Scott LLC now owns 6,033 shares of the conglomerate’s stock worth $248,000 after buying an additional 277 shares in the last quarter. Finally, Baker Ellis Asset Management LLC increased its position in ITT by 0.5% in the first quarter. Baker Ellis Asset Management LLC now owns 25,349 shares of the conglomerate’s stock worth $1,040,000 after buying an additional 125 shares in the last quarter. 95.19% of the stock is owned by institutional investors.
Shares of ITT Inc. (NYSE ITT) opened at 40.37 on Thursday. The company’s 50-day moving average is $40.96 and its 200-day moving average is $40.52. ITT Inc. has a 52-week low of $32.46 and a 52-week high of $44.00. The firm has a market cap of $3.55 billion, a P/E ratio of 17.29 and a beta of 1.47.
ITT (NYSE:ITT) last announced its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The business had revenue of $630.90 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $0.67 EPS. Equities research analysts forecast that ITT Inc. will post $2.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be issued a dividend of $0.128 per share. The ex-dividend date is Friday, September 8th. This represents a $0.51 annualized dividend and a dividend yield of 1.27%. ITT’s dividend payout ratio is 21.70%.
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A number of research firms recently issued reports on ITT. Stifel Nicolaus reissued a “buy” rating and set a $49.00 target price on shares of ITT in a research report on Wednesday. BidaskClub downgraded shares of ITT from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded shares of ITT from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) downgraded shares of ITT from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $46.00 to $43.00 in a research report on Tuesday, June 6th. Finally, ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $46.29.
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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