ITT Inc. (NYSE:ITT) Shares Acquired by AlphaQuest LLC

AlphaQuest LLC boosted its holdings in ITT Inc. (NYSE:ITT - Free Report) by 422.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,208 shares of the conglomerate's stock after acquiring an additional 3,403 shares during the quarter. AlphaQuest LLC's holdings in ITT were worth $601,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. M&T Bank Corp increased its position in ITT by 1.3% in the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate's stock valued at $797,000 after acquiring an additional 69 shares during the period. Oppenheimer Asset Management Inc. increased its position in ITT by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate's stock valued at $1,641,000 after acquiring an additional 81 shares during the period. CIBC Asset Management Inc increased its position in ITT by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate's stock valued at $360,000 after acquiring an additional 87 shares during the period. Tectonic Advisors LLC increased its position in ITT by 4.2% in the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate's stock valued at $435,000 after acquiring an additional 123 shares during the period. Finally, Savant Capital LLC increased its position in ITT by 3.5% in the 4th quarter. Savant Capital LLC now owns 4,081 shares of the conglomerate's stock valued at $583,000 after acquiring an additional 137 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ITT shares. Stifel Nicolaus lowered their target price on ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Wolfe Research began coverage on ITT in a research note on Wednesday, December 11th. They set a "peer perform" rating for the company. Citigroup decreased their price target on ITT from $183.00 to $181.00 and set a "buy" rating for the company in a research note on Monday, January 13th. StockNews.com raised ITT from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, UBS Group increased their price target on ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, ITT currently has a consensus rating of "Moderate Buy" and an average price target of $168.38.

Remove Ads

ITT Stock Performance

ITT opened at $133.89 on Wednesday. The firm has a market cap of $10.90 billion, a PE ratio of 21.25, a P/E/G ratio of 1.89 and a beta of 1.42. 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 business has a fifty day simple moving average of $144.90 and a 200-day simple moving average of $146.05. ITT Inc. has a fifty-two week low of $121.01 and a fifty-two week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last released 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 return on equity of 18.03% and a net margin of 14.27%. As a group, equities analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The business 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 dividend of $0.351 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from ITT's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.05%. ITT's dividend payout ratio (DPR) is currently 22.22%.

ITT Company 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.

Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.