Securian Asset Management Inc cut its holdings in shares of ITT Inc. (NYSE:ITT) by 3.4% during the 2nd quarter, Holdings Channel reports. The firm owned 7,913 shares of the conglomerate’s stock after selling 277 shares during the period. Securian Asset Management Inc’s holdings in ITT were worth $725,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ITT during the 1st quarter worth approximately $30,000. KB Financial Partners LLC acquired a new stake in shares of ITT during the 1st quarter worth approximately $36,000. Van ECK Associates Corp acquired a new stake in shares of ITT during the 1st quarter worth approximately $42,000. Ceredex Value Advisors LLC acquired a new stake in shares of ITT during the 1st quarter worth approximately $43,000. Finally, Berman Capital Advisors LLC boosted its position in shares of ITT by 139.3% during the 1st quarter. Berman Capital Advisors LLC now owns 579 shares of the conglomerate’s stock worth $51,000 after acquiring an additional 337 shares in the last quarter. 91.54% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on ITT shares. began coverage on shares of ITT in a research report on Tuesday, June 15th. They set a “buy” rating and a $113.00 price target on the stock. Citigroup began coverage on shares of ITT in a research report on Tuesday, June 15th. They issued a “buy” rating on the stock. KeyCorp raised their target price on shares of ITT from $105.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday, August 6th. William Blair restated a “market perform” rating on shares of ITT in a research report on Friday, August 6th. Finally, Zacks Investment Research lowered shares of ITT from a “buy” rating to a “hold” rating and set a $103.00 price target on the stock. in a report on Monday, August 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $103.22.
ITT (NYSE:ITT) last posted its earnings results on Thursday, August 5th. The conglomerate reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.04. The firm had revenue of $691.60 million during the quarter, compared to analysts’ expectations of $644.43 million. ITT had a net margin of 2.41% and a return on equity of 15.86%. As a group, research analysts forecast that ITT Inc. will post 4.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 4th. Investors of record on Monday, September 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, September 10th. ITT’s payout ratio is 27.50%.
In other ITT news, Director Orlando D. Ashford sold 2,062 shares of ITT stock in a transaction that occurred on Tuesday, September 14th. The shares were sold at an average price of $90.00, for a total transaction of $185,580.00. Following the transaction, the director now owns 14,542 shares of the company’s stock, valued at $1,308,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.
ITT Company Profile
ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions in the field of energy, transportation, and industrial markets. It operates through the following segments: Motion Technologies, Industrial Process, and Connect and Control Technologies. The Motion Technologies segment manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation.
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