Meeder Asset Management Inc. Boosts Stake in ITT Inc (NYSE:ITT)

Meeder Asset Management Inc. increased its stake in shares of ITT Inc (NYSE:ITT) by 146.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,369 shares of the conglomerate’s stock after purchasing an additional 2,596 shares during the period. Meeder Asset Management Inc.’s holdings in ITT were worth $285,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Coastal Investment Advisors Inc. lifted its holdings in ITT by 1,310.0% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 423 shares of the conglomerate’s stock worth $27,000 after buying an additional 393 shares in the last quarter. Field & Main Bank acquired a new stake in ITT during the 1st quarter worth approximately $28,000. Advisory Services Network LLC lifted its holdings in ITT by 63.5% during the 2nd quarter. Advisory Services Network LLC now owns 528 shares of the conglomerate’s stock worth $34,000 after buying an additional 205 shares in the last quarter. Private Ocean LLC acquired a new stake in shares of ITT in the 2nd quarter valued at $43,000. Finally, Ibex Wealth Advisors acquired a new stake in shares of ITT in the 2nd quarter valued at $65,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Shares of ITT opened at $54.65 on Friday. ITT Inc has a twelve month low of $44.89 and a twelve month high of $66.88. The firm’s fifty day simple moving average is $60.93 and its 200-day simple moving average is $59.94. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.60 and a beta of 1.57.

ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, August 2nd. The conglomerate reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.04. ITT had a net margin of 10.85% and a return on equity of 16.68%. The business had revenue of $719.90 million for the quarter, compared to analyst estimates of $703.80 million. During the same period last year, the business earned $0.82 EPS. Equities research analysts expect that ITT Inc will post 3.63 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be given a $0.147 dividend. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, September 9th. ITT’s dividend payout ratio (DPR) is 18.27%.

ITT has been the topic of a number of analyst reports. Oppenheimer set a $72.00 price objective on shares of ITT and gave the company a “buy” rating in a report on Friday, July 19th. Zacks Investment Research upgraded shares of ITT from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Wednesday, June 12th. Finally, ValuEngine lowered shares of ITT from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. ITT has an average rating of “Buy” and a consensus price target of $66.20.

ITT Profile

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.

Featured Article: Correction

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.