Quadrature Capital Ltd acquired a new stake in ITT Inc. (NYSE:ITT – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,711 shares of the conglomerate’s stock, valued at approximately $373,000.
Other hedge funds also recently modified their holdings of the company. Ronald Blue Trust Inc. acquired a new stake in ITT in the 2nd quarter valued at $26,000. Lazard Asset Management LLC acquired a new stake in ITT in the 2nd quarter valued at $30,000. Private Trust Co. NA acquired a new stake in ITT in the 2nd quarter valued at $30,000. FNY Investment Advisers LLC acquired a new stake in ITT in the 3rd quarter valued at $32,000. Finally, Bessemer Group Inc. grew its position in ITT by 337.5% in the 3rd quarter. Bessemer Group Inc. now owns 595 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 459 shares during the period. Institutional investors own 90.16% of the company’s stock.
Analyst Ratings Changes
ITT has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of ITT from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 10th. DA Davidson boosted their price target on shares of ITT from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, February 13th. KeyCorp boosted their price target on shares of ITT from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 10th. StockNews.com upgraded ITT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 28th. Finally, Citigroup upped their price objective on shares of ITT from $94.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, February 13th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.30.
ITT Trading Down 3.5 %
ITT (NYSE:ITT – Get Rating) last issued its earnings results on Thursday, February 9th. The conglomerate reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.05. ITT had a return on equity of 17.63% and a net margin of 12.28%. The business had revenue of $774.60 million during the quarter, compared to analysts’ expectations of $766.82 million. During the same period in the prior year, the business earned $1.06 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Research analysts predict that ITT Inc. will post 4.81 EPS for the current fiscal year.
ITT Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Thursday, March 9th will be given a dividend of $0.29 per share. This is a positive change from ITT’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a yield of 1.34%. The ex-dividend date is Wednesday, March 8th. ITT’s dividend payout ratio is currently 26.42%.
ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions primarily for the transportation, industrial, and energy markets. It operates through the following segments: Motion Technologies, Industrial Process, Connect and Control Technologies, and Corporate and Other.
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