ITT Inc (ITT) Shares Bought by Psagot Investment House Ltd.
Psagot Investment House Ltd. increased its stake in shares of ITT Inc (NYSE:ITT) by 215.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,360 shares of the conglomerate’s stock after acquiring an additional 11,180 shares during the quarter. Psagot Investment House Ltd.’s holdings in ITT were worth $790,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its stake in ITT by 10.0% during the fourth quarter. Meeder Asset Management Inc. now owns 2,304 shares of the conglomerate’s stock worth $111,000 after acquiring an additional 210 shares in the last quarter. Advisor Group Inc. boosted its stake in ITT by 10.0% during the fourth quarter. Advisor Group Inc. now owns 3,065 shares of the conglomerate’s stock worth $148,000 after acquiring an additional 278 shares in the last quarter. Kanawha Capital Management LLC boosted its stake in ITT by 8.9% during the fourth quarter. Kanawha Capital Management LLC now owns 4,300 shares of the conglomerate’s stock worth $208,000 after acquiring an additional 350 shares in the last quarter. ETF Managers Group LLC boosted its stake in ITT by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 2,663 shares of the conglomerate’s stock worth $129,000 after acquiring an additional 363 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in ITT by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 113,579 shares of the conglomerate’s stock worth $5,482,000 after acquiring an additional 372 shares in the last quarter. 92.00% of the stock is currently owned by institutional investors and hedge funds.
ITT has been the topic of a number of recent research reports. Oppenheimer set a $68.00 price objective on shares of ITT and gave the company a “buy” rating in a research note on Thursday, January 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price objective on shares of ITT in a research note on Wednesday, December 19th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, December 18th. Finally, UBS Group raised shares of ITT from a “sell” rating to a “neutral” rating and raised their price objective for the company from $48.00 to $60.00 in a research note on Thursday, February 28th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $65.13.
ITT (NYSE:ITT) last announced its earnings results on Friday, February 22nd. The conglomerate reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.08. The company had revenue of $678.40 million during the quarter, compared to the consensus estimate of $700.53 million. ITT had a net margin of 12.16% and a return on equity of 16.50%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, equities research analysts predict that ITT Inc will post 3.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be issued a $0.147 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.59 annualized dividend and a dividend yield of 1.01%. This is an increase from ITT’s previous quarterly dividend of $0.13. ITT’s dividend payout ratio is currently 18.27%.
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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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