Halsey Associates Inc. CT Buys Shares of 4,875 ITT Inc. (ITT)

Halsey Associates Inc. CT bought a new stake in shares of ITT Inc. (NYSE:ITT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,875 shares of the conglomerate’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ITT. BlackRock Inc. raised its holdings in ITT by 4.0% during the 4th quarter. BlackRock Inc. now owns 7,413,218 shares of the conglomerate’s stock valued at $395,641,000 after buying an additional 284,131 shares during the period. Goldman Sachs Group Inc. raised its holdings in ITT by 56.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,681,071 shares of the conglomerate’s stock valued at $196,460,000 after buying an additional 1,327,073 shares during the period. Janus Henderson Group PLC raised its holdings in ITT by 2.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,132,953 shares of the conglomerate’s stock valued at $138,696,000 after buying an additional 80,975 shares during the period. Macquarie Group Ltd. raised its holdings in ITT by 1.0% during the 4th quarter. Macquarie Group Ltd. now owns 2,642,276 shares of the conglomerate’s stock valued at $141,018,000 after buying an additional 27,202 shares during the period. Finally, LSV Asset Management increased its stake in ITT by 1.7% in the fourth quarter. LSV Asset Management now owns 2,041,870 shares of the conglomerate’s stock worth $108,974,000 after purchasing an additional 33,700 shares during the period. Hedge funds and other institutional investors own 94.20% of the company’s stock.

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A number of analysts have weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $62.00 target price (down previously from $63.00) on shares of ITT in a research note on Tuesday, February 20th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded ITT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. UBS started coverage on ITT in a research report on Tuesday, January 23rd. They set a “sell” rating and a $55.00 price objective on the stock. Finally, Oppenheimer reaffirmed a “buy” rating and set a $60.00 price objective on shares of ITT in a research report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $55.88.

In related news, CFO Thomas M. Scalera sold 9,215 shares of ITT stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $49.77, for a total transaction of $458,630.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by company insiders.

ITT Inc. (NYSE:ITT) traded up $0.61 during trading on Tuesday, hitting $51.98. The company had a trading volume of 20,525 shares, compared to its average volume of 654,508. The firm has a market capitalization of $4,553.77, a P/E ratio of 40.13, a price-to-earnings-growth ratio of 1.35 and a beta of 1.59. ITT Inc. has a 12-month low of $36.93 and a 12-month high of $57.62.

ITT (NYSE:ITT) last announced its quarterly earnings results on Friday, February 16th. The conglomerate reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. The company had revenue of $683.60 million during the quarter, compared to analysts’ expectations of $635.71 million. ITT had a return on equity of 14.65% and a net margin of 4.39%. ITT’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share. equities analysts expect that ITT Inc. will post 3.08 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be given a dividend of $0.134 per share. This is a boost from ITT’s previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, March 9th. ITT’s dividend payout ratio (DPR) is currently 42.19%.

ITT announced that its board has approved a share buyback plan on Friday, February 16th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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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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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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