ITT Inc. (NYSE:ITT) Position Boosted by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lifted its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 34.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,550 shares of the conglomerate's stock after buying an additional 50,384 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.24% of ITT worth $28,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp grew its position in shares of ITT by 1.1% during the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate's stock worth $364,457,000 after buying an additional 26,133 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ITT by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate's stock valued at $204,736,000 after purchasing an additional 8,223 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of ITT by 4.3% during the third quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate's stock valued at $100,100,000 after purchasing an additional 27,885 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of ITT during the third quarter valued at about $67,503,000. Finally, Loomis Sayles & Co. L P raised its stake in shares of ITT by 1.1% during the third quarter. Loomis Sayles & Co. L P now owns 381,580 shares of the conglomerate's stock valued at $57,050,000 after purchasing an additional 4,271 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. 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. 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 note on Friday, January 24th. 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. Finally, Citigroup cut their price objective 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 assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $168.38.

ITT Price Performance

NYSE:ITT traded down $6.04 during mid-day trading on Friday, reaching $141.85. 572,938 shares of the stock were exchanged, compared to its average volume of 385,233. The business has a fifty day moving average price of $146.34 and a 200 day moving average price of $145.48. The firm has a market capitalization of $11.55 billion, a PE ratio of 22.52, a PEG ratio of 1.91 and a beta of 1.41. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Research analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a $0.351 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.99%. This is a boost from ITT's previous quarterly dividend of $0.32. ITT's dividend payout ratio (DPR) is currently 20.32%.

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.