3,351 Shares in ITT Inc (ITT) Purchased by Ibex Investors LLC
Ibex Investors LLC acquired a new stake in ITT Inc (NYSE:ITT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,351 shares of the conglomerate’s stock, valued at approximately $205,000.
A number of other large investors also recently modified their holdings of the stock. BlackRock Inc. lifted its stake in ITT by 2.7% in the 3rd quarter. BlackRock Inc. now owns 7,956,878 shares of the conglomerate’s stock valued at $487,437,000 after purchasing an additional 209,102 shares during the last quarter. FMR LLC lifted its stake in ITT by 14.2% in the 3rd quarter. FMR LLC now owns 7,617,264 shares of the conglomerate’s stock valued at $466,635,000 after purchasing an additional 945,321 shares during the last quarter. LSV Asset Management lifted its stake in ITT by 0.6% in the 2nd quarter. LSV Asset Management now owns 1,848,370 shares of the conglomerate’s stock valued at $96,614,000 after purchasing an additional 10,200 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in ITT by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,172,084 shares of the conglomerate’s stock valued at $71,802,000 after purchasing an additional 186,281 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in ITT by 4.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,124,471 shares of the conglomerate’s stock valued at $68,886,000 after purchasing an additional 43,167 shares during the last quarter. 91.17% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on ITT. UBS Group increased their price objective on shares of ITT from $57.00 to $60.00 and gave the company a “sell” rating in a research note on Thursday, August 30th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 18th. Robert W. Baird reissued a “buy” rating and issued a $65.00 price objective on shares of ITT in a research note on Wednesday, November 7th. Oppenheimer set a $68.00 price objective on shares of ITT and gave the company a “buy” rating in a research note on Tuesday, November 27th. Finally, Gordon Haskett began coverage on shares of ITT in a research note on Friday, October 12th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $66.25.
ITT (NYSE:ITT) last released its quarterly earnings results on Friday, November 2nd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The firm had revenue of $680.60 million during the quarter, compared to the consensus estimate of $677.36 million. ITT had a net margin of 7.80% and a return on equity of 16.10%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. On average, sell-side analysts forecast that ITT Inc will post 3.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be paid a dividend of $0.134 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, December 6th. ITT’s payout ratio is currently 20.85%.
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ITT Company Profile
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: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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