Shell Asset Management Co. lowered its stake in ITT Inc. (NYSE:ITT – Get Rating) by 12.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,458 shares of the conglomerate’s stock after selling 1,102 shares during the period. Shell Asset Management Co.’s holdings in ITT were worth $561,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of ITT in the 4th quarter worth approximately $3,095,000. Teacher Retirement System of Texas grew its stake in shares of ITT by 19.0% in the 4th quarter. Teacher Retirement System of Texas now owns 16,600 shares of the conglomerate’s stock worth $1,696,000 after buying an additional 2,654 shares during the last quarter. Rhumbline Advisers grew its stake in shares of ITT by 1.3% in the 4th quarter. Rhumbline Advisers now owns 224,810 shares of the conglomerate’s stock worth $22,973,000 after buying an additional 2,926 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in ITT by 12.4% during the 4th quarter. Segall Bryant & Hamill LLC now owns 159,083 shares of the conglomerate’s stock valued at $16,258,000 after purchasing an additional 17,554 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in ITT by 1,490.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 252,233 shares of the conglomerate’s stock valued at $18,970,000 after purchasing an additional 236,371 shares during the last quarter. Hedge funds and other institutional investors own 95.64% of the company’s stock.
ITT Stock Performance
Shares of ITT stock opened at $73.47 on Wednesday. ITT Inc. has a one year low of $63.77 and a one year high of $105.54. The stock’s fifty day moving average is $69.70 and its 200 day moving average is $76.57. The stock has a market cap of $6.13 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.46 and a beta of 1.47.
ITT Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be paid a $0.264 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.44%. ITT’s payout ratio is presently 29.94%.
Analyst Upgrades and Downgrades
ITT has been the topic of several recent analyst reports. UBS Group upgraded ITT from a “neutral” rating to a “buy” rating and cut their target price for the company from $107.00 to $95.00 in a research note on Friday, April 8th. DA Davidson cut their target price on ITT from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, June 21st. The Goldman Sachs Group cut their target price on ITT from $109.00 to $94.00 and set a “buy” rating on the stock in a research note on Thursday, April 7th. Robert W. Baird cut their target price on ITT from $90.00 to $84.00 in a research note on Wednesday, May 4th. Finally, Cowen lowered their price target on ITT from $105.00 to $92.00 in a report on Monday, June 13th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.00.
ITT Company Profile
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.
- Get a free copy of the StockNews.com research report on ITT (ITT)
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