South Dakota Investment Council Has $245,000 Stake in ITT Inc. (ITT)
South Dakota Investment Council maintained its stake in shares of ITT Inc. (NYSE:ITT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,100 shares of the conglomerate’s stock at the close of the 2nd quarter. South Dakota Investment Council’s holdings in ITT were worth $245,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Pinnacle Financial Partners Inc. bought a new stake in ITT during the second quarter worth $105,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ITT by 10.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock worth $132,000 after buying an additional 314 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in ITT during the first quarter worth $214,000. Stephens Inc. AR bought a new stake in ITT during the first quarter worth $222,000. Finally, Synovus Financial Corp grew its holdings in ITT by 2.6% during the second quarter. Synovus Financial Corp now owns 5,489 shares of the conglomerate’s stock worth $222,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.
ITT has been the subject of several recent research reports. BidaskClub upgraded ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Stifel Nicolaus reiterated a “buy” rating and set a $49.00 price target on shares of ITT in a report on Wednesday, August 16th. Zacks Investment Research downgraded ITT from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) downgraded ITT from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $46.00 to $43.00 in a report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $46.29.
ITT Inc. (NYSE ITT) opened at 42.19 on Monday. The firm has a 50-day moving average price of $40.37 and a 200 day moving average price of $40.30. The stock has a market cap of $3.71 billion, a PE ratio of 18.07 and a beta of 1.46. ITT Inc. has a 52-week low of $32.46 and a 52-week high of $44.00.
ITT (NYSE:ITT) last posted its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to analyst estimates of $628.65 million. During the same quarter last year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts forecast that ITT Inc. will post $2.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be given a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, September 8th. ITT’s dividend payout ratio (DPR) is presently 21.70%.
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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