Magnetar Financial LLC Invests $2.85 Million in ITT Inc. (NYSE:ITT)

Magnetar Financial LLC acquired a new position in ITT Inc. (NYSE:ITT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 19,934 shares of the conglomerate's stock, valued at approximately $2,848,000.

Several other large investors have also recently modified their holdings of the company. Teacher Retirement System of Texas boosted its holdings in ITT by 16.8% in the fourth quarter. Teacher Retirement System of Texas now owns 71,868 shares of the conglomerate's stock worth $10,269,000 after acquiring an additional 10,356 shares in the last quarter. Xponance Inc. raised its position in shares of ITT by 5.3% in the 4th quarter. Xponance Inc. now owns 9,296 shares of the conglomerate's stock valued at $1,328,000 after purchasing an additional 465 shares during the last quarter. Boston Partners boosted its stake in ITT by 7.0% in the 4th quarter. Boston Partners now owns 930,069 shares of the conglomerate's stock worth $132,915,000 after purchasing an additional 61,132 shares in the last quarter. Intech Investment Management LLC grew its position in 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 purchasing an additional 9,633 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in ITT by 1.7% during the 4th quarter. Natixis Advisors LLC now owns 71,488 shares of the conglomerate's stock valued at $10,214,000 after purchasing an additional 1,176 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

ITT has been the subject of several research reports. Citigroup lowered their price objective on shares of ITT from $183.00 to $181.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Stifel Nicolaus lowered their price target on ITT from $180.00 to $179.00 and set a "buy" rating for the company in a research report on Friday, January 24th. KeyCorp increased their price objective on ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Wolfe Research assumed coverage on ITT in a report on Wednesday, December 11th. They set a "peer perform" rating for the company. Finally, StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, ITT currently has a consensus rating of "Moderate Buy" and a consensus target price of $168.38.

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ITT Stock Performance

ITT stock traded down $0.45 during trading on Tuesday, hitting $139.42. 334,752 shares of the company traded hands, compared to its average volume of 387,740. 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 1 year low of $121.01 and a 1 year high of $161.13. The stock's 50-day simple moving average is $143.62 and its 200 day simple moving average is $145.99. The company has a market cap of $11.35 billion, a PE ratio of 22.13, a P/E/G ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share 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 analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal 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 dividend of $0.351 per share. 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 1.01%. The ex-dividend date of this dividend is Thursday, March 6th. ITT's dividend payout ratio is presently 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.