Gabelli Funds LLC Raises Position in ITT Inc. (NYSE:ITT)

Gabelli Funds LLC grew its holdings in shares of ITT Inc. (NYSE:ITTGet Rating) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 456,845 shares of the conglomerate’s stock after purchasing an additional 870 shares during the quarter. Gabelli Funds LLC owned approximately 0.53% of ITT worth $46,685,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of ITT during the 4th quarter worth $3,095,000. Teacher Retirement System of Texas increased its holdings in shares of ITT by 19.0% during 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 increased its holdings in shares of ITT by 1.3% during 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. Transcend Wealth Collective LLC acquired a new stake in shares of ITT during the 4th quarter worth $2,176,000. Finally, Barclays PLC increased its holdings in shares of ITT by 13.0% during the 3rd quarter. Barclays PLC now owns 77,268 shares of the conglomerate’s stock worth $6,633,000 after buying an additional 8,888 shares during the last quarter. 95.64% of the stock is currently owned by institutional investors.

Shares of ITT stock traded down $0.34 during trading hours on Friday, hitting $69.04. 875,992 shares of the company’s stock traded hands, compared to its average volume of 815,469. The stock has a 50 day simple moving average of $73.98 and a 200-day simple moving average of $88.06. The company has a market cap of $5.76 billion, a PE ratio of 19.50, a PEG ratio of 1.23 and a beta of 1.51. ITT Inc. has a twelve month low of $67.16 and a twelve month high of $105.54.

ITT (NYSE:ITTGet Rating) last announced its earnings results on Tuesday, May 3rd. The conglomerate reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. ITT had a return on equity of 15.90% and a net margin of 10.92%. The company had revenue of $726.20 million during the quarter, compared to the consensus estimate of $695.93 million. During the same period last year, the firm earned $1.06 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts anticipate that ITT Inc. will post 4.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 17th will be given a dividend of $0.264 per share. The ex-dividend date is Thursday, June 16th. This represents a $1.06 annualized dividend and a dividend yield of 1.53%. ITT’s payout ratio is 29.94%.

A number of analysts have recently commented on ITT shares. StockNews.com assumed coverage on ITT in a report on Thursday, March 31st. They set a “hold” rating for the company. Oppenheimer downgraded ITT from an “outperform” rating to a “market perform” rating in a report on Monday, March 28th. Robert W. Baird lowered their price target on ITT from $90.00 to $84.00 in a report on Wednesday, May 4th. The Goldman Sachs Group lowered their price target on ITT from $109.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, April 7th. Finally, Stifel Nicolaus lowered their price target on ITT from $107.00 to $91.00 and set a “buy” rating for the company in a report on Monday, April 18th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $103.36.

About ITT (Get Rating)

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.

Recommended Stories

Institutional Ownership by Quarter for ITT (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.