Twin Capital Management Inc. Sells 6,140 Shares of ITT Inc (NYSE:ITT)

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.

ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, August 2nd. The conglomerate reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. ITT had a net margin of 10.85% and a return on equity of 16.68%. The firm had revenue of $719.90 million for the quarter, compared to the consensus estimate of $703.80 million. During the same quarter in the previous year, the firm earned $0.82 EPS. As a group, equities research analysts predict that ITT Inc will post 3.63 EPS for the current year.

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 Profile

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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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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