Twin Capital Management Inc. lowered its holdings in shares of ITT Inc (NYSE:ITT) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,860 shares of the conglomerate’s stock after selling 6,140 shares during the quarter. Twin Capital Management Inc.’s holdings in ITT were worth $5,557,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in ITT. FMR LLC lifted its holdings in shares of ITT by 7.5% in the 1st quarter. FMR LLC now owns 6,606,274 shares of the conglomerate’s stock worth $383,164,000 after acquiring an additional 458,175 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of ITT by 9.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,574,946 shares of the conglomerate’s stock worth $234,087,000 after acquiring an additional 310,850 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of ITT by 9,025.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 165,253 shares of the conglomerate’s stock worth $9,585,000 after acquiring an additional 163,442 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ITT by 14.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,264,627 shares of the conglomerate’s stock worth $73,348,000 after acquiring an additional 156,841 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its holdings in shares of ITT by 17.6% in the 1st quarter. OppenheimerFunds Inc. now owns 1,027,938 shares of the conglomerate’s stock worth $59,621,000 after acquiring an additional 154,198 shares during the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.
NYSE ITT traded down $0.36 during trading on Thursday, reaching $54.32. 8,718 shares of the company’s stock traded hands, compared to its average volume of 554,939. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.55 and a beta of 1.57. The company has a 50 day simple moving average of $62.51. ITT Inc has a 12-month low of $44.89 and a 12-month high of $66.88.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be given a $0.147 dividend. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, September 9th. ITT’s payout ratio is currently 18.27%.
Several equities research analysts have recently issued reports on ITT shares. ValuEngine lowered shares of ITT from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Oppenheimer set a $72.00 target price on shares of ITT and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Wednesday, June 12th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $66.20.
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.
Further Reading: What is the strike price in options trading?
Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc (NYSE:ITT).
Receive News & Ratings for ITT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT and related companies with MarketBeat.com's FREE daily email newsletter.