14,130 Shares in ITT Inc (ITT) Acquired by Campbell & CO Investment Adviser LLC
Campbell & CO Investment Adviser LLC acquired a new position in ITT Inc (NYSE:ITT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,130 shares of the conglomerate’s stock, valued at approximately $866,000. ITT comprises 0.6% of Campbell & CO Investment Adviser LLC’s investment portfolio, making the stock its 17th biggest holding.
Other institutional investors also recently modified their holdings of the company. FMR LLC increased its position in shares of ITT by 17.4% during the second quarter. FMR LLC now owns 6,671,943 shares of the conglomerate’s stock valued at $348,743,000 after acquiring an additional 987,111 shares during the last quarter. Boston Partners purchased a new stake in shares of ITT during the second quarter valued at approximately $40,647,000. Canada Pension Plan Investment Board increased its position in shares of ITT by 114.7% during the second quarter. Canada Pension Plan Investment Board now owns 583,496 shares of the conglomerate’s stock valued at $30,499,000 after acquiring an additional 311,700 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of ITT by 94.6% during the second quarter. OppenheimerFunds Inc. now owns 516,914 shares of the conglomerate’s stock valued at $27,018,000 after acquiring an additional 251,322 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of ITT during the third quarter valued at approximately $12,385,000. 91.17% of the stock is owned by hedge funds and other institutional investors.
ITT has been the subject of a number of research analyst reports. UBS Group increased their price target on ITT from $57.00 to $60.00 and gave the company a “sell” rating in a research report on Thursday, August 30th. Robert W. Baird reissued a “buy” rating and issued a $65.00 target price on shares of ITT in a research report on Wednesday, November 7th. Zacks Investment Research lowered ITT from a “buy” rating to a “hold” rating in a report on Friday. Oppenheimer reaffirmed a “buy” rating and issued a $68.00 price target on shares of ITT in a report on Friday, November 2nd. Finally, Gordon Haskett initiated coverage on ITT in a report on Friday, October 12th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $66.25.
ITT (NYSE:ITT) last posted its quarterly earnings data on Friday, November 2nd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The company had revenue of $680.60 million during the quarter, compared to analyst estimates of $677.36 million. ITT had a return on equity of 16.10% and a net margin of 7.80%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.66 earnings per share. On average, research analysts forecast that ITT Inc will post 3.15 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be paid a dividend of $0.134 per share. This represents a $0.54 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, December 6th. ITT’s dividend payout ratio is 20.85%.
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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: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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