Regents Gate Capital LLP Invests $4.32 Million in ITT Inc. (NYSE:ITT)

Regents Gate Capital LLP bought a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,258 shares of the conglomerate's stock, valued at approximately $4,323,000. ITT makes up about 1.7% of Regents Gate Capital LLP's holdings, making the stock its 22nd biggest holding.

Several other hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in shares of ITT in the 2nd quarter worth approximately $489,000. CWM LLC raised its holdings in shares of ITT by 191.4% in the 3rd quarter. CWM LLC now owns 3,879 shares of the conglomerate's stock worth $580,000 after purchasing an additional 2,548 shares during the period. UMB Bank n.a. raised its holdings in shares of ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate's stock worth $35,000 after purchasing an additional 180 shares during the period. Blue Trust Inc. raised its holdings in shares of ITT by 252.5% in the 3rd quarter. Blue Trust Inc. now owns 1,491 shares of the conglomerate's stock worth $223,000 after purchasing an additional 1,068 shares during the period. Finally, Raymond James & Associates raised its holdings in shares of ITT by 3.2% in the 3rd quarter. Raymond James & Associates now owns 69,649 shares of the conglomerate's stock worth $10,413,000 after purchasing an additional 2,176 shares during the period. Institutional investors own 91.59% of the company's stock.

ITT Price Performance

Shares of ITT traded up $2.52 during mid-day trading on Thursday, reaching $147.81. 449,824 shares of the stock traded hands, compared to its average volume of 379,384. The firm has a fifty day moving average price of $147.05 and a 200 day moving average price of $145.02. The company has a market cap of $12.05 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.08. ITT Inc. has a 1 year low of $120.48 and a 1 year high of $161.13.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, equities research analysts predict that ITT Inc. will post 6.33 earnings per share for the current year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be given 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 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, March 6th. ITT's payout ratio is 20.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. TD Cowen lifted their price target on shares of ITT from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. KeyCorp lifted their price objective on shares of ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. UBS Group lifted their price objective on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Citigroup reduced 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. Finally, Wolfe Research assumed coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a "peer perform" rating for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $168.38.

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.