Cinctive Capital Management LP Sells 3,251 Shares of ITT Inc. (NYSE:ITT)

Cinctive Capital Management LP reduced its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 65.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,749 shares of the conglomerate's stock after selling 3,251 shares during the quarter. Cinctive Capital Management LP's holdings in ITT were worth $250,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Alliancebernstein L.P. grew its holdings in shares of ITT by 14.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate's stock valued at $195,256,000 after acquiring an additional 169,944 shares in the last quarter. AIA Group Ltd acquired a new position in ITT in the 4th quarter worth about $236,000. O Shaughnessy Asset Management LLC raised its stake in shares of ITT by 10.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,366 shares of the conglomerate's stock worth $624,000 after purchasing an additional 407 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of ITT by 227.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 917 shares of the conglomerate's stock valued at $131,000 after buying an additional 637 shares in the last quarter. Finally, Ramirez Asset Management Inc. increased its holdings in ITT by 290.3% in the fourth quarter. Ramirez Asset Management Inc. now owns 8,578 shares of the conglomerate's stock worth $1,226,000 after buying an additional 6,380 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Citigroup dropped their price target on shares of ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. UBS Group upped their target price on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Stifel Nicolaus decreased their price objective on shares of ITT from $180.00 to $179.00 and set a "buy" rating for the company in a report on Friday, January 24th. Finally, KeyCorp dropped their target price on shares of ITT from $170.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $167.43.

ITT Stock Performance

ITT stock traded up $12.34 during mid-day trading on Wednesday, reaching $125.01. The company had a trading volume of 765,714 shares, compared to its average volume of 419,171. 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 firm has a market cap of $10.18 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.89 and a beta of 1.36. The company has a 50 day moving average of $136.83 and a 200-day moving average of $144.75. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping 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%. On average, sell-side analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were issued a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from ITT's previous quarterly dividend of $0.32. ITT's payout ratio is 22.22%.

ITT Profile

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.