Bank of Nova Scotia lifted its holdings in shares of ITT Inc. (NYSE:ITT) by 21.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 223,571 shares of the conglomerate’s stock after purchasing an additional 39,200 shares during the period. Bank of Nova Scotia owned about 0.25% of ITT worth $8,983,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. United Capital Financial Advisers LLC boosted its position in ITT by 0.6% during the 1st quarter. United Capital Financial Advisers LLC now owns 6,600 shares of the conglomerate’s stock valued at $271,000 after buying an additional 42 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in ITT by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,940 shares of the conglomerate’s stock valued at $520,000 after buying an additional 56 shares during the period. World Asset Management Inc boosted its position in ITT by 2.0% during the 2nd quarter. World Asset Management Inc now owns 5,597 shares of the conglomerate’s stock valued at $225,000 after buying an additional 110 shares during the period. Stephens Inc. AR boosted its position in ITT by 2.4% during the 2nd quarter. Stephens Inc. AR now owns 5,532 shares of the conglomerate’s stock valued at $222,000 after buying an additional 130 shares during the period. Finally, Synovus Financial Corp boosted its position in ITT by 2.6% during the 2nd quarter. Synovus Financial Corp now owns 5,489 shares of the conglomerate’s stock valued at $222,000 after buying an additional 138 shares during the period. 92.58% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on ITT shares. Robert W. Baird reissued a “buy” rating and set a $51.00 price target on shares of ITT in a research report on Wednesday, October 4th. BidaskClub cut shares of ITT from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research cut shares of ITT from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. ValuEngine cut shares of ITT from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $49.00 price target on shares of ITT in a research report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $48.50.
ITT Inc. (NYSE ITT) traded up 0.76% during midday trading on Friday, hitting $46.25. 395,119 shares of the stock traded hands. The firm’s 50-day moving average is $42.81 and its 200-day moving average is $40.88. ITT Inc. has a 52-week low of $32.46 and a 52-week high of $46.76. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 19.81 and a beta of 1.48.
ITT (NYSE:ITT) last posted its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The firm had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $628.65 million. ITT had a net margin of 8.64% and a return on equity of 14.17%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. Analysts predict that ITT Inc. will post $2.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be paid a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, December 7th. ITT’s dividend payout ratio (DPR) is presently 21.70%.
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In related news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.
ITT Company Profile
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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