LS Investment Advisors LLC decreased its stake in ITT Inc. (NYSE:ITT) by 18.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,574 shares of the conglomerate’s stock after selling 1,241 shares during the quarter. LS Investment Advisors LLC’s holdings in ITT were worth $297,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC boosted its position in shares of ITT by 7.5% in the 3rd quarter. SeaBridge Investment Advisors LLC now owns 175,938 shares of the conglomerate’s stock valued at $7,789,000 after purchasing an additional 12,298 shares during the period. State Street Corp lifted its stake in ITT by 1.2% in the 2nd quarter. State Street Corp now owns 2,331,009 shares of the conglomerate’s stock worth $93,659,000 after acquiring an additional 26,802 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in ITT by 3.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 73,073 shares of the conglomerate’s stock worth $3,235,000 after acquiring an additional 2,473 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in ITT by 5.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 604,954 shares of the conglomerate’s stock worth $26,781,000 after acquiring an additional 29,959 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ITT by 48.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,857 shares of the conglomerate’s stock worth $259,000 after acquiring an additional 1,577 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.
ITT Inc. (NYSE:ITT) traded down $0.42 on Wednesday, reaching $51.35. The company’s stock had a trading volume of 21,771 shares, compared to its average volume of 626,151. The firm has a market cap of $4,458.51, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.32 and a beta of 1.59. ITT Inc. has a 12-month low of $36.93 and a 12-month high of $57.62.
ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, February 16th. The conglomerate reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. ITT had a return on equity of 14.65% and a net margin of 4.39%. The company had revenue of $683.60 million for the quarter, compared to analyst estimates of $635.71 million. During the same quarter last year, the firm earned $0.48 EPS. ITT’s revenue for the quarter was up 16.2% compared to the same quarter last year. sell-side analysts forecast that ITT Inc. will post 3.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be issued a dividend of $0.134 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, March 9th. This is a positive change from ITT’s previous quarterly dividend of $0.13. ITT’s dividend payout ratio (DPR) is presently 39.84%.
ITT announced that its Board of Directors has approved a stock buyback plan on Friday, February 16th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised ITT from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Monday, January 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $62.00 price target (down from $63.00) on shares of ITT in a research note on Tuesday, February 20th. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Oppenheimer reaffirmed a “buy” rating and set a $60.00 price target on shares of ITT in a research note on Thursday, January 18th. Finally, UBS Group assumed coverage on ITT in a research note on Tuesday, January 23rd. They set a “sell” rating and a $55.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. ITT currently has an average rating of “Buy” and a consensus target price of $55.88.
In other news, CFO Thomas M. Scalera sold 9,215 shares of ITT stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $49.77, for a total transaction of $458,630.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.
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.