Great West Life Assurance Co. Can boosted its position in ITT Corp. (NYSE:ITT) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,748 shares of the company’s stock after buying an additional 1,313 shares during the period. Great West Life Assurance Co. Can owned 0.06% of ITT Corp. worth $1,961,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of ITT. Oakbrook Investments LLC raised its position in ITT Corp. by 6.9% in the second quarter. Oakbrook Investments LLC now owns 9,300 shares of the company’s stock worth $297,000 after buying an additional 600 shares in the last quarter. Parametrica Management Ltd raised its stake in shares of ITT Corp. by 115.5% in the second quarter. Parametrica Management Ltd now owns 11,683 shares of the company’s stock worth $374,000 after buying an additional 6,261 shares during the period. Meyer Handelman Co. bought a new stake in shares of ITT Corp. during the second quarter worth about $333,000. LS Investment Advisors LLC raised its stake in shares of ITT Corp. by 72.5% in the second quarter. LS Investment Advisors LLC now owns 5,552 shares of the company’s stock worth $178,000 after buying an additional 2,333 shares during the period. Finally, IBM Retirement Fund raised its stake in shares of ITT Corp. by 0.4% in the second quarter. IBM Retirement Fund now owns 9,123 shares of the company’s stock worth $292,000 after buying an additional 34 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.
ITT Corp. (NYSE:ITT) traded down 1.18% during midday trading on Friday, hitting $40.25. 213,334 shares of the company traded hands. The stock’s 50-day moving average is $35.88 and its 200-day moving average is $34.78. ITT Corp. has a 12-month low of $29.15 and a 12-month high of $40.81. The firm has a market capitalization of $3.55 billion, a PE ratio of 18.45 and a beta of 1.38.
ITT Corp. (NYSE:ITT) last issued its earnings results on Friday, November 4th. The company reported $0.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. ITT Corp. had a net margin of 7.93% and a return on equity of 15.41%. The firm earned $582 million during the quarter, compared to the consensus estimate of $582.12 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was down 3.4% on a year-over-year basis. Analysts anticipate that ITT Corp. will post $2.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be paid a $0.124 dividend. This represents a $0.50 annualized dividend and a yield of 1.23%. The ex-dividend date is Wednesday, December 7th. ITT Corp.’s payout ratio is presently 22.94%.
A number of brokerages have issued reports on ITT. Zacks Investment Research raised shares of ITT Corp. from a “sell” rating to a “hold” rating in a research note on Friday, November 18th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of ITT Corp. in a research note on Tuesday, August 23rd. Barclays PLC raised shares of ITT Corp. from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $35.00 to $41.00 in a research note on Monday, October 24th. They noted that the move was a valuation call. Finally, KeyCorp raised shares of ITT Corp. from a “sector weight” rating to an “overweight” rating and set a $40.00 target price for the company in a research note on Monday, November 7th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. ITT Corp. has a consensus rating of “Buy” and a consensus price target of $40.57.
In other ITT Corp. news, VP Thomas M. Scalera sold 9,310 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $38.00, for a total value of $353,780.00. Following the completion of the sale, the vice president now owns 60,807 shares of the company’s stock, valued at $2,310,666. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aris C. Chicles sold 56,380 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $38.28, for a total transaction of $2,158,226.40. Following the completion of the sale, the insider now directly owns 72,117 shares of the company’s stock, valued at approximately $2,760,638.76. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
About ITT Corp.
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.