Suntrust Banks Inc. grew its holdings in ITT Inc. (NYSE:ITT) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,011 shares of the conglomerate’s stock after purchasing an additional 27 shares during the quarter. Suntrust Banks Inc.’s holdings in ITT were worth $442,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of ITT. Pinnacle Financial Partners Inc. purchased a new position in shares of ITT in the second quarter valued at approximately $105,000. Riverhead Capital Management LLC raised its holdings in ITT by 57.0% in the second quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 1,059 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ITT by 10.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 314 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in ITT in the first quarter valued at approximately $214,000. Finally, Stephens Inc. AR acquired a new stake in ITT in the first quarter valued at approximately $222,000. 92.58% of the stock is owned by institutional investors and hedge funds.
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In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total value of $214,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is owned by company insiders.
Several analysts recently weighed in on ITT shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $49.00 target price on shares of ITT in a report on Wednesday, August 16th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Tuesday, July 18th. BidaskClub raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Deutsche Bank AG raised shares of ITT from a “hold” rating to a “buy” rating and raised their target price for the company from $46.00 to $55.00 in a report on Monday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. ITT presently has a consensus rating of “Buy” and an average target price of $48.00.
ITT Inc. (NYSE:ITT) opened at 45.69 on Thursday. The stock has a 50 day moving average of $42.43 and a 200-day moving average of $40.79. ITT Inc. has a one year low of $32.46 and a one year high of $46.76. The firm has a market capitalization of $4.02 billion, a PE ratio of 19.57 and a beta of 1.48.
ITT (NYSE:ITT) last issued its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share 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 firm had revenue of $630.90 million for the quarter, compared to analyst estimates of $628.65 million. During the same period last year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts predict that ITT Inc. will post $2.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be given a $0.128 dividend. This represents a $0.51 annualized dividend and a yield of 1.12%. ITT’s dividend payout ratio is presently 21.70%.
ITT Company Profile
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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