Capstone Asset Management Co. boosted its position in ITT Inc. (NYSE:ITT) by 4.2% during the second quarter, Holdings Channel reports. The fund owned 6,625 shares of the conglomerate’s stock after buying an additional 270 shares during the period. Capstone Asset Management Co.’s holdings in ITT were worth $266,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new stake in ITT during the second quarter worth $550,000. UBS Oconnor LLC raised its stake in ITT by 88.2% in the first quarter. UBS Oconnor LLC now owns 199,500 shares of the conglomerate’s stock worth $8,183,000 after buying an additional 93,505 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in ITT by 95.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 41,720 shares of the conglomerate’s stock worth $1,712,000 after buying an additional 20,370 shares during the last quarter. Bank of Nova Scotia raised its stake in ITT by 35.0% in the first quarter. Bank of Nova Scotia now owns 184,371 shares of the conglomerate’s stock worth $7,563,000 after buying an additional 47,771 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in ITT by 387.3% in the first quarter. Point72 Asset Management L.P. now owns 314,300 shares of the conglomerate’s stock worth $12,893,000 after buying an additional 249,800 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Shares of ITT Inc. (ITT) traded down 0.89% during trading on Thursday, reaching $40.01. The company had a trading volume of 60,911 shares. The firm has a 50-day moving average price of $40.96 and a 200-day moving average price of $40.52. ITT Inc. has a 52-week low of $32.46 and a 52-week high of $44.00. The company has a market capitalization of $3.52 billion, a P/E ratio of 17.13 and a beta of 1.47.

ITT (NYSE:ITT) last posted its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. ITT had a return on equity of 14.17% and a net margin of 8.64%. The company had revenue of $630.90 million for the quarter, compared to the consensus estimate of $628.65 million. During the same period in the previous year, the business earned $0.67 EPS. ITT’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts predict that ITT Inc. will post $2.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be given a $0.128 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.51 annualized dividend and a dividend yield of 1.27%. ITT’s payout ratio is 21.70%.

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A number of research firms recently weighed in on ITT. Stifel Nicolaus restated a “buy” rating and set a $49.00 target price on shares of ITT in a research note on Wednesday. BidaskClub lowered shares of ITT from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of ITT from a “buy” rating to a “neutral” rating and cut their target price for the stock from $46.00 to $43.00 in a research note on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.29.

About ITT

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.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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