Cubist Systematic Strategies LLC Takes Position in ITT Inc. (NYSE:ITT)

Cubist Systematic Strategies LLC purchased a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 76,913 shares of the conglomerate's stock, valued at approximately $9,936,000. Cubist Systematic Strategies LLC owned about 0.09% of ITT at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new stake in shares of ITT during the 2nd quarter valued at $27,000. Rise Advisors LLC increased its position in shares of ITT by 788.5% during the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 205 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of ITT during the 2nd quarter valued at $32,000. Brown Brothers Harriman & Co. purchased a new stake in shares of ITT during the 2nd quarter valued at $36,000. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of ITT by 71.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate's stock valued at $45,000 after purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ITT shares. TD Cowen lifted their price objective on ITT from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, July 15th. KeyCorp lifted their price objective on ITT from $150.00 to $155.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price objective on ITT from $150.00 to $157.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $151.00.

ITT Price Performance

NYSE ITT traded up $2.56 during trading hours on Thursday, hitting $150.46. The company had a trading volume of 208,989 shares, compared to its average volume of 382,315. ITT Inc. has a 52 week low of $91.94 and a 52 week high of $151.52. The firm has a 50 day simple moving average of $136.48 and a 200 day simple moving average of $133.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.89 and a beta of 1.40.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping the consensus estimate of $1.46 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. During the same quarter last year, the company earned $1.33 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. Equities research analysts expect that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.319 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.85%. ITT's dividend payout ratio (DPR) is presently 25.10%.

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.