Retirement Systems of Alabama boosted its stake in ITT Corp. (NYSE:ITT) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,226 shares of the company’s stock after buying an additional 819 shares during the period. Retirement Systems of Alabama’s holdings in ITT Corp. were worth $3,717,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in ITT. Bank of Montreal Can purchased a new stake in ITT Corp. during the second quarter valued at about $153,000. Creative Planning raised its stake in ITT Corp. by 10.5% in the second quarter. Creative Planning now owns 5,293 shares of the company’s stock valued at $169,000 after buying an additional 501 shares during the period. LS Investment Advisors LLC raised its stake in ITT Corp. by 72.5% in the second quarter. LS Investment Advisors LLC now owns 5,552 shares of the company’s stock valued at $178,000 after buying an additional 2,333 shares during the period. IBM Retirement Fund raised its stake in ITT Corp. by 0.4% in the second quarter. IBM Retirement Fund now owns 9,123 shares of the company’s stock valued at $292,000 after buying an additional 34 shares during the period. Finally, Oakbrook Investments LLC raised its stake in ITT Corp. by 6.9% in the second quarter. Oakbrook Investments LLC now owns 9,300 shares of the company’s stock valued at $297,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 89.33% of the company’s stock.
ITT Corp. (NYSE:ITT) traded up 0.18% during midday trading on Monday, hitting $34.13. 292,115 shares of the stock traded hands. ITT Corp. has a 12-month low of $29.15 and a 12-month high of $40.52. The company’s 50-day moving average is $35.30 and its 200 day moving average is $35.01. The firm has a market cap of $3.06 billion, a P/E ratio of 12.98 and a beta of 1.28.
ITT Corp. (NYSE:ITT) last posted its earnings results on Thursday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. ITT Corp. had a return on equity of 16.02% and a net margin of 9.49%. The firm earned $626.20 million during the quarter, compared to analysts’ expectations of $620.12 million. During the same period in the previous year, the firm earned $0.69 earnings per share. The company’s revenue was down .3% on a year-over-year basis. On average, analysts anticipate that ITT Corp. will post $2.40 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a $0.124 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. ITT Corp.’s dividend payout ratio (DPR) is 19.01%.
A number of equities research analysts recently weighed in on ITT shares. Barclays PLC decreased their price objective on shares of ITT Corp. from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of ITT Corp. in a report on Tuesday, August 23rd. KeyCorp reiterated a “sector weight” rating on shares of ITT Corp. in a report on Wednesday, June 29th. Finally, Zacks Investment Research lowered shares of ITT Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $41.43.
ITT Corp. 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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