Kanawha Capital Management LLC held its stake in ITT Inc. (NYSE:ITT) during the second quarter, according to its most recent filing with the SEC. The fund owned 5,595 shares of the conglomerate’s stock at the end of the second quarter. Kanawha Capital Management LLC’s holdings in ITT were worth $225,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of ITT. Timber Hill LLC purchased a new stake in ITT during the first quarter valued at $201,000. Coastline Trust Co bought a new position in shares of ITT during the first quarter valued at about $205,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of ITT during the first quarter valued at about $214,000. Stephens Inc. AR bought a new position in shares of ITT during the first quarter valued at about $222,000. Finally, World Asset Management Inc raised its position in shares of ITT by 0.3% in the first quarter. World Asset Management Inc now owns 5,487 shares of the conglomerate’s stock valued at $225,000 after buying an additional 19 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.
ITT Inc. (NYSE:ITT) traded up 0.17% during trading on Friday, hitting $40.19. 466,140 shares of the stock traded hands. The firm has a 50-day moving average price of $40.82 and a 200 day moving average price of $40.58. The company has a market cap of $3.54 billion, a P/E ratio of 17.21 and a beta of 1.47. ITT Inc. has a 52-week low of $32.46 and a 52-week high of $44.00.
ITT (NYSE:ITT) last issued its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $630.90 million during the quarter, compared to the consensus estimate of $628.65 million. ITT had a return on equity of 14.17% and a net margin of 8.64%. ITT’s revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. On average, equities analysts expect that ITT Inc. will post $2.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be paid a dividend of $0.128 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.51 annualized dividend and a dividend yield of 1.27%. ITT’s dividend payout ratio is currently 21.70%.
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A number of research firms have weighed in on ITT. Stifel Nicolaus raised their price objective on shares of ITT from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. BidaskClub lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered shares of ITT from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) lowered shares of ITT from a “buy” rating to a “neutral” rating and dropped their price target for the company from $46.00 to $43.00 in a research report on Tuesday, June 6th. Finally, ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $46.57.
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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