Fiera Capital Corp Decreases Position in ITT Inc (NYSE:ITT)

Fiera Capital Corp lessened its holdings in ITT Inc (NYSE:ITT) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,505 shares of the conglomerate’s stock after selling 2,010 shares during the period. Fiera Capital Corp owned approximately 0.06% of ITT worth $2,335,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. FMR LLC boosted its position in ITT by 2.2% in the 4th quarter. FMR LLC now owns 6,078,068 shares of the conglomerate’s stock valued at $449,230,000 after buying an additional 130,429 shares during the period. Macquarie Group Ltd. boosted its position in ITT by 25.1% in the 4th quarter. Macquarie Group Ltd. now owns 2,850,402 shares of the conglomerate’s stock valued at $210,674,000 after buying an additional 572,459 shares during the period. Boston Partners boosted its position in ITT by 3.6% in the 4th quarter. Boston Partners now owns 2,741,145 shares of the conglomerate’s stock valued at $202,612,000 after buying an additional 94,700 shares during the period. Paradice Investment Management LLC boosted its position in ITT by 6.2% in the 1st quarter. Paradice Investment Management LLC now owns 1,544,405 shares of the conglomerate’s stock valued at $70,054,000 after buying an additional 89,694 shares during the period. Finally, Norges Bank purchased a new position in ITT in the 4th quarter valued at approximately $78,517,000. 95.30% of the stock is owned by institutional investors.

Shares of NYSE:ITT opened at $54.26 on Friday. The company’s fifty day moving average price is $49.32 and its 200 day moving average price is $61.75. ITT Inc has a 12 month low of $35.41 and a 12 month high of $75.56. The firm has a market capitalization of $4.64 billion, a P/E ratio of 14.20, a P/E/G ratio of 3.06 and a beta of 1.59.

ITT (NYSE:ITT) last announced its quarterly earnings results on Friday, May 1st. The conglomerate reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. ITT had a net margin of 12.03% and a return on equity of 16.26%. The firm had revenue of $663.30 million for the quarter, compared to analyst estimates of $631.89 million. During the same period last year, the business earned $0.91 EPS. ITT’s revenue for the quarter was down 4.6% compared to the same quarter last year. Research analysts anticipate that ITT Inc will post 2.54 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be paid a $0.169 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. ITT’s dividend payout ratio is presently 17.85%.

A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of ITT from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. DA Davidson restated a “buy” rating and issued a $70.00 price objective (down from $85.00) on shares of ITT in a report on Friday, March 27th. UBS Group raised their price objective on shares of ITT from $64.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 8th. TheStreet lowered shares of ITT from a “b-” rating to a “c+” rating in a report on Friday, April 3rd. Finally, Oppenheimer reduced their price objective on shares of ITT from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Sunday, May 3rd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $66.38.

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.

See Also: Return on Equity (ROE)

Institutional Ownership by Quarter for ITT (NYSE:ITT)

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