Municipal Employees Retirement System of Michigan lifted its position in shares of ITT Inc (NYSE:ITT) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,160 shares of the conglomerate’s stock after purchasing an additional 190 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in ITT were worth $1,058,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Aperio Group LLC boosted its stake in ITT by 33.5% during the 2nd quarter. Aperio Group LLC now owns 27,059 shares of the conglomerate’s stock worth $1,772,000 after purchasing an additional 6,787 shares during the last quarter. Ibex Wealth Advisors acquired a new stake in ITT during the 2nd quarter worth $65,000. First Trust Advisors LP boosted its stake in ITT by 104.5% during the 2nd quarter. First Trust Advisors LP now owns 101,943 shares of the conglomerate’s stock worth $6,675,000 after purchasing an additional 52,091 shares during the last quarter. Private Ocean LLC acquired a new stake in ITT during the 2nd quarter worth $43,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in ITT by 29.0% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 72,050 shares of the conglomerate’s stock worth $4,718,000 after purchasing an additional 16,190 shares during the last quarter. 89.74% of the stock is currently owned by institutional investors and hedge funds.
NYSE ITT opened at $54.68 on Thursday. ITT Inc has a 52 week low of $44.89 and a 52 week high of $66.88. The business’s fifty day moving average is $62.51. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.55 and a beta of 1.57.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.147 per share. The ex-dividend date is Monday, September 9th. This represents a $0.59 annualized dividend and a dividend yield of 1.08%. ITT’s dividend payout ratio is presently 18.27%.
Several equities research analysts have issued reports on ITT shares. ValuEngine cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Wednesday, June 12th. Finally, Oppenheimer set a $72.00 target price on shares of ITT and gave the stock a “buy” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. ITT has an average rating of “Buy” and an average target price of $66.20.
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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