Wells Fargo & Company MN trimmed its holdings in ITT Inc. (NYSE:ITT) by 64.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,536 shares of the conglomerate’s stock after selling 474,816 shares during the quarter. Wells Fargo & Company MN’s holdings in ITT were worth $24,504,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in ITT. Capital International Investors increased its holdings in shares of ITT by 124.1% in the 2nd quarter. Capital International Investors now owns 5,517,559 shares of the conglomerate’s stock valued at $505,353,000 after acquiring an additional 3,055,684 shares during the period. Renaissance Technologies LLC acquired a new position in shares of ITT in the 2nd quarter valued at $14,883,000. Morgan Stanley grew its position in ITT by 232.4% in the 2nd quarter. Morgan Stanley now owns 232,334 shares of the conglomerate’s stock valued at $21,279,000 after buying an additional 162,435 shares during the last quarter. Ceredex Value Advisors LLC grew its position in ITT by 28,068.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 133,800 shares of the conglomerate’s stock valued at $12,284,000 after buying an additional 133,325 shares during the last quarter. Finally, State Street Corp grew its position in ITT by 6.4% in the 2nd quarter. State Street Corp now owns 2,142,673 shares of the conglomerate’s stock valued at $196,738,000 after buying an additional 128,030 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Orlando D. Ashford sold 2,062 shares of the business’s stock in a transaction dated Tuesday, September 14th. The shares were sold at an average price of $90.00, for a total value of $185,580.00. Following the completion of the transaction, the director now owns 14,542 shares of the company’s stock, valued at approximately $1,308,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by insiders.
ITT stock opened at $102.89 on Thursday. ITT Inc. has a 52 week low of $72.54 and a 52 week high of $105.54. The stock has a 50-day simple moving average of $93.96. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 44.93, a PEG ratio of 1.66 and a beta of 1.60.
ITT (NYSE:ITT) last released its quarterly earnings data on Wednesday, November 3rd. The conglomerate reported $0.99 EPS for the quarter, topping the consensus estimate of $0.93 by $0.06. ITT had a net margin of 7.14% and a return on equity of 16.29%. During the same period last year, the firm posted $0.82 EPS. As a group, equities analysts anticipate that ITT Inc. will post 4.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 30th. Investors of record on Monday, December 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. ITT’s dividend payout ratio is presently 38.43%.
ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions in the field of energy, transportation, and industrial markets. It operates through the following segments: Motion Technologies, Industrial Process, and Connect and Control Technologies. The Motion Technologies segment manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation.
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