Ieq Capital LLC Buys Shares of 2,879 ITT Inc. (NYSE:ITT)

Ieq Capital LLC purchased a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,879 shares of the conglomerate's stock, valued at approximately $411,000.

A number of other hedge funds have also recently modified their holdings of ITT. Eagle Asset Management Inc. purchased a new stake in ITT in the third quarter valued at $67,503,000. International Assets Investment Management LLC raised its holdings in ITT by 16,832.5% in the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate's stock valued at $2,101,000 after acquiring an additional 13,971 shares in the last quarter. Algert Global LLC lifted its stake in ITT by 101.2% in the third quarter. Algert Global LLC now owns 18,034 shares of the conglomerate's stock worth $2,696,000 after acquiring an additional 9,070 shares during the last quarter. Pier 88 Investment Partners LLC lifted its stake in ITT by 268.1% in the third quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate's stock worth $4,161,000 after acquiring an additional 20,270 shares during the last quarter. Finally, Vest Financial LLC grew its holdings in ITT by 63.8% during the 4th quarter. Vest Financial LLC now owns 17,004 shares of the conglomerate's stock worth $2,430,000 after acquiring an additional 6,626 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Stock Performance

ITT traded down $3.94 on Monday, hitting $137.30. 478,704 shares of the company traded hands, compared to its average volume of 399,958. ITT Inc. has a 12-month low of $121.01 and a 12-month high of $161.13. The company has a 50 day moving average of $145.87 and a 200-day moving average of $146.00. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $11.18 billion, a PE ratio of 21.79, a PEG ratio of 1.89 and a beta of 1.41.

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ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Sell-side analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be paid a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, March 6th. This is a boost from ITT's previous quarterly dividend of $0.32. ITT's dividend payout ratio (DPR) is 22.22%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Citigroup decreased their price target on ITT from $183.00 to $181.00 and set a "buy" rating for the company in a report on Monday, January 13th. Stifel Nicolaus dropped their price objective on ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, January 24th. KeyCorp raised their target price on ITT from $164.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Finally, Wolfe Research assumed coverage on ITT in a report on Wednesday, December 11th. They issued a "peer perform" rating for the company. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $168.38.

About ITT

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.