Kennedy Capital Management LLC acquired a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 18,330 shares of the conglomerate's stock, valued at approximately $2,619,000.
Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in ITT by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock worth $73,913,000 after acquiring an additional 3,424 shares during the last quarter. Venturi Wealth Management LLC lifted its position in ITT by 880.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock valued at $308,000 after purchasing an additional 1,936 shares during the last quarter. AlphaQuest LLC grew its stake in ITT by 422.7% in the 4th quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock worth $601,000 after buying an additional 3,403 shares in the last quarter. ING Groep NV purchased a new stake in shares of ITT during the 4th quarter valued at $1,214,000. Finally, Intech Investment Management LLC lifted its holdings in shares of ITT by 218.0% during the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock worth $2,008,000 after acquiring an additional 9,633 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on ITT. Citigroup dropped their price target on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research note on Monday. Stifel Nicolaus decreased their price target on shares of ITT from $179.00 to $148.00 and set a "buy" rating on the stock in a research note on Monday. StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. KeyCorp cut their price target on shares of ITT from $170.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group increased their target price on ITT from $165.00 to $168.00 and gave the company a "buy" rating in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $158.57.
Read Our Latest Analysis on ITT
ITT Trading Up 0.9 %
NYSE:ITT traded up $1.15 during trading hours on Friday, hitting $127.93. The company had a trading volume of 850,017 shares, compared to its average volume of 433,999. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13. The company has a market capitalization of $10.36 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The stock has a 50-day moving average price of $134.22 and a 200 day moving average price of $143.82.
ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. On average, equities research analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.
ITT Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were given a dividend of $0.351 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.10%. This is a positive change from ITT's previous quarterly dividend of $0.32. ITT's dividend payout ratio (DPR) is currently 22.22%.
ITT Company Profile
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Free Report)
ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.
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