Ownership Action Alert: Itt Corp Stock Rise in 2016 Q2 Driven by Institutional Investors

November 29, 2016 - By Nellie Frank   ·   0 Comments

Ownership Action Alert: Itt Corp Stock Rise in  2016 Q2 Driven by Institutional Investors

Sentiment for Itt Corp (NYSE:ITT)

Itt Corp (NYSE:ITT) institutional sentiment decreased to 0 in Q2 2016. Its down -0.01, from 0.01 in 2016Q1. The ratio dived, as 2 active investment managers increased or started new holdings, while 257 cut down and sold equity positions in Itt Corp. The active investment managers in our partner’s database now possess: 171,152 shares, down from 81.41 million shares in 2016Q1. Also, the number of active investment managers holding Itt Corp in their top 10 holdings decreased from 2 to 0 for a decrease of 2. Sold All: 253 Reduced: 4 Increased: 2 New Position: 0.

About 282,484 shares traded hands. ITT Inc. (NYSE:ITT) has risen 2.43% since April 26, 2016 and is uptrending. It has underperformed by 2.83% the S&P500.

Analysts await ITT Inc. (NYSE:ITT) to report earnings on February, 10. They expect $0.46 EPS, down 20.69% or $0.12 from last year’s $0.58 per share. ITT’s profit will be $41.78M for 21.13 P/E if the $0.46 EPS becomes a reality. After $0.58 actual EPS reported by ITT Inc. for the previous quarter, Wall Street now forecasts -20.69% negative EPS growth.

According to Zacks Investment Research, “ITT Inc. is a manufacturer of engineered critical components and customized technology solutions for the energy, transportation and industrial markets. ITT Inc., formerly known as ITT Corporation, is headquartered in White Plains, New York.”

Fourpoints Investment Managers S.A.S. holds 1.75% of its portfolio in ITT Inc. for 78,100 shares. Covington Investment Advisors Inc. owns 36,297 shares or 0.51% of their US portfolio. Moreover, Hancock Holding Co has 0.02% invested in the company for 11,284 shares. The Ohio-based Huntington National Bank has invested 0.02% in the stock. Meeder Asset Management Inc, a Ohio-based fund reported 7,182 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 2 insider sales for $2.51 million net activity.

ITT Inc. (NYSE:ITT) Ratings Coverage

Ratings analysis reveals 75% of ITT Corp’s analysts are positive. Out of 4 Wall Street analysts rating ITT Corp, 3 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $31 while the high is $52. The stock’s average target of $41.40 is 6.45% above today’s ($38.89) share price. ITT was included in 10 notes of analysts from September 1, 2015. The firm earned “Buy” rating on Friday, June 10 by Seaport Global. The firm has “Outperform” rating by Cowen & Co given on Tuesday, September 1. Barclays Capital maintained the stock with “Equalweight” rating in Monday, July 18 report. The firm has “Sector Weight” rating given on Wednesday, June 29 by KeyBanc Capital Markets. Barclays Capital upgraded the stock to “Overweight” rating in Monday, October 24 report. The stock has “Overweight” rating given by KeyBanc Capital Markets on Monday, November 7. Barclays Capital maintained ITT Inc. (NYSE:ITT) rating on Monday, October 5. Barclays Capital has “Equal-Weight” rating and $34 price target. The company was initiated on Thursday, October 15 by Avondale.

ITT Company Profile

ITT Inc. is a diversified maker of engineered components and customized technology solutions for the energy, transportation and industrial markets. The Firm makes components that are integral to the operation of systems and manufacturing processes in its markets. The Company’s product and service offerings are organized into four divisions: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies.

Another recent and important ITT Inc. (NYSE:ITT) news was published by Pionline.com which published an article titled: “ITT Inc. offers lump sum to former employees” on November 04, 2016.

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By Nellie Frank


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