Goldman Sachs Group Inc. lifted its holdings in ITT Inc. (NYSE:ITT) by 56.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,681,071 shares of the conglomerate’s stock after buying an additional 1,327,073 shares during the quarter. Goldman Sachs Group Inc. owned approximately 4.18% of ITT worth $196,460,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ITT by 48.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,857 shares of the conglomerate’s stock worth $259,000 after buying an additional 1,577 shares during the period. Neuberger Berman Group LLC grew its position in shares of ITT by 5.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 604,954 shares of the conglomerate’s stock worth $26,781,000 after buying an additional 29,959 shares during the period. Paradice Investment Management LLC grew its position in shares of ITT by 2.9% in the 3rd quarter. Paradice Investment Management LLC now owns 1,574,946 shares of the conglomerate’s stock worth $69,723,000 after buying an additional 44,212 shares during the period. Macquarie Group Ltd. grew its position in shares of ITT by 18.5% in the 3rd quarter. Macquarie Group Ltd. now owns 2,615,074 shares of the conglomerate’s stock worth $115,769,000 after buying an additional 407,746 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of ITT by 36.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 97,245 shares of the conglomerate’s stock worth $4,305,000 after buying an additional 25,853 shares during the period. 94.22% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Thomas M. Scalera sold 9,215 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $49.77, for a total transaction of $458,630.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.
Shares of ITT Inc. (NYSE ITT) opened at $53.27 on Monday. ITT Inc. has a 1 year low of $36.93 and a 1 year high of $57.62. The company has a market cap of $4,698.41, a PE ratio of 20.57, a P/E/G ratio of 1.39 and a beta of 1.59.
ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, February 16th. The conglomerate reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. ITT had a net margin of 4.39% and a return on equity of 14.65%. The company had revenue of $683.60 million for the quarter, compared to the consensus estimate of $635.71 million. During the same period in the prior year, the firm posted $0.48 EPS. ITT’s revenue for the quarter was up 16.2% on a year-over-year basis. analysts anticipate that ITT Inc. will post 3.08 EPS for the current year.
ITT announced that its Board of Directors has approved a stock buyback plan on Friday, February 16th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the conglomerate to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed 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 represents a $0.54 annualized dividend and a yield of 1.01%. This is an increase from ITT’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, March 9th. ITT’s dividend payout ratio is 39.84%.
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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