Albert D Mason Inc. increased its holdings in shares of ITT Inc (NYSE:ITT) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,270 shares of the conglomerate’s stock after purchasing an additional 175 shares during the quarter. ITT makes up about 1.5% of Albert D Mason Inc.’s investment portfolio, making the stock its 4th biggest holding. Albert D Mason Inc.’s holdings in ITT were worth $1,975,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Marshall Wace North America L.P. raised its position in ITT by 149.8% during the first quarter. Marshall Wace North America L.P. now owns 3,300 shares of the conglomerate’s stock worth $191,000 after acquiring an additional 1,979 shares in the last quarter. First Trust Advisors LP raised its position in ITT by 262.9% during the first quarter. First Trust Advisors LP now owns 49,852 shares of the conglomerate’s stock worth $2,891,000 after acquiring an additional 36,114 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in ITT by 5.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 96,018 shares of the conglomerate’s stock worth $5,569,000 after acquiring an additional 4,720 shares in the last quarter. Retirement Systems of Alabama raised its position in ITT by 0.4% during the second quarter. Retirement Systems of Alabama now owns 114,201 shares of the conglomerate’s stock worth $7,478,000 after acquiring an additional 428 shares in the last quarter. Finally, Tributary Capital Management LLC raised its position in ITT by 15.5% during the second quarter. Tributary Capital Management LLC now owns 29,100 shares of the conglomerate’s stock worth $1,905,000 after acquiring an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 89.60% of the company’s stock.
Several analysts have issued reports on ITT shares. Oppenheimer set a $72.00 price target on shares of ITT and gave the stock a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research raised shares of ITT from a “sell” rating to a “hold” rating and set a $63.00 price target on the stock in a research report on Monday, October 14th. Finally, ValuEngine lowered shares of ITT from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.80.
ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, August 2nd. The conglomerate reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.04. The company had revenue of $719.90 million for the quarter, compared to analyst estimates of $703.80 million. ITT had a net margin of 10.85% and a return on equity of 16.68%. During the same period in the prior year, the firm earned $0.82 earnings per share. As a group, sell-side analysts expect that ITT Inc will post 3.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.147 dividend. This represents a $0.59 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, December 6th. ITT’s payout ratio is presently 18.27%.
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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