Inceptionr LLC Purchases 6,037 Shares of ITT Inc. (NYSE:ITT)

Inceptionr LLC raised its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 124.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,904 shares of the conglomerate's stock after purchasing an additional 6,037 shares during the quarter. Inceptionr LLC's holdings in ITT were worth $1,558,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Asset Management Inc. purchased a new stake in shares of ITT in the 3rd quarter worth about $67,503,000. Algert Global LLC grew its position in shares of ITT by 101.2% in the 3rd quarter. Algert Global LLC now owns 18,034 shares of the conglomerate's stock worth $2,696,000 after buying an additional 9,070 shares during the period. Pier 88 Investment Partners LLC grew its position in shares of ITT by 268.1% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate's stock worth $4,161,000 after buying an additional 20,270 shares during the period. Vest Financial LLC grew its position in shares of ITT by 63.8% in the 4th quarter. Vest Financial LLC now owns 17,004 shares of the conglomerate's stock worth $2,430,000 after buying an additional 6,626 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of ITT by 35.3% in the 4th quarter. Van ECK Associates Corp now owns 70,366 shares of the conglomerate's stock worth $10,054,000 after buying an additional 18,370 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Performance

ITT traded up $1.32 during midday trading on Friday, hitting $138.82. 541,546 shares of the company traded hands, compared to its average volume of 425,269. The company's 50-day moving average is $145.22 and its 200 day moving average is $146.01. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13. 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 capitalization of $11.30 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

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ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping 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, research analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently disclosed 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 1.01%. 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 is 22.22%.

Analyst Ratings Changes

ITT has been the topic of several recent analyst reports. StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. KeyCorp increased their price objective on shares of ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. UBS Group increased their price objective on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Stifel Nicolaus cut their price objective on shares of ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Finally, Citigroup lowered their target price 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. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, ITT has a consensus rating of "Moderate Buy" and a consensus 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.