Portland Global Advisors Exits Position in ITT Corp (ITT)

ITT Corp (ITT) : Portland Global Advisors has sold out all of its stake in ITT Corp during the most recent quarter, according to the disclosure filed by the company on Jul 26, 2016 with the SEC. The investment management company has sold out 6,217 shares of ITT Corp which is valued at $201,306.

Other Hedge Funds, Including , Jensen Investment Management Inc boosted its stake in ITT in the latest quarter, The investment management firm added 440 additional shares and now holds a total of 11,750 shares of ITT Corp which is valued at $380,465. ITT Corp makes up approx 0.01% of Jensen Investment Management Inc’s portfolio.New York State Teachers Retirement System reduced its stake in ITT by selling 5,500 shares or 3.65% in the most recent quarter. The Hedge Fund company now holds 145,234 shares of ITT which is valued at $4,675,082. ITT Corp makes up approx 0.01% of New York State Teachers Retirement System’s portfolio.Punch Associates Investment Management boosted its stake in ITT in the latest quarter, The investment management firm added 936 additional shares and now holds a total of 47,454 shares of ITT Corp which is valued at $1,599,200. ITT Corp makes up approx 0.18% of Punch Associates Investment Management’s portfolio.First Manhattan Co reduced its stake in ITT by selling 450 shares or 12.23% in the most recent quarter. The Hedge Fund company now holds 3,228 shares of ITT which is valued at $108,784.North Star Investment Management Corp. boosted its stake in ITT in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 385 shares of ITT Corp which is valued at $12,717.

ITT Corp opened for trading at $31.68 and hit $32.14 on the upside on Friday, eventually ending the session at $31.71, with a gain of 0.06% or 0.02 points. The heightened volatility saw the trading volume jump to 11,80,630 shares. Company has a market cap of $2,857 M.

On the company’s financial health, ITT Corp reported $0.59 EPS for the quarter, based on the information available during the earnings call on May 5, 2016. Analyst had a consensus estimate of $0.59. The company had revenue of $609.10 million for the quarter, compared to analysts expectations of $591.55 million. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on ITT Corp. ITT Corp was Resumed by KeyBanc Capital Mkts to “Sector Weight” on Jun 29, 2016. Company shares were Upgraded by Seaport Global Securities on Jun 10, 2016 to ” Buy”, Firm has raised the Price Target to $ 41 from a previous price target of $37 .

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. Motion Technologies manufactures brake components shock absorbers and damping technologies for the automotive truck and trailer public bus and rail transportation markets. Interconnect Solutions manufactures and designs a range of engineered connector solutions that makes it possible to transfer signal and power between electronic devices. Control Technologies manufactures equipment including actuation valves and noise and energy absorption components for the aerospace and defense and industrial markets.

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