GAMMA Investing LLC Makes New $94,000 Investment in ITT Inc. (NYSE:ITT)

GAMMA Investing LLC bought a new position in ITT Inc. (NYSE:ITT) in the 4th quarter, HoldingsChannel.com reports. The fund bought 779 shares of the conglomerate’s stock, valued at approximately $94,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC boosted its stake in ITT by 8.2% in the fourth quarter. Signaturefd LLC now owns 1,150 shares of the conglomerate’s stock worth $137,000 after buying an additional 87 shares in the last quarter. AIA Group Ltd boosted its stake in ITT by 104.4% in the fourth quarter. AIA Group Ltd now owns 19,411 shares of the conglomerate’s stock worth $2,316,000 after buying an additional 9,914 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ITT by 3.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,772 shares of the conglomerate’s stock worth $2,836,000 after buying an additional 822 shares in the last quarter. Eagle Bluffs Wealth Management LLC lifted its position in ITT by 0.6% in the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 18,820 shares of the conglomerate’s stock valued at $2,246,000 after purchasing an additional 114 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. bought a new stake in ITT in the fourth quarter valued at approximately $9,111,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ITT. DA Davidson boosted their price objective on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Stifel Nicolaus boosted their price objective on ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. KeyCorp boosted their price objective on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Citigroup boosted their price objective on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, StockNews.com downgraded ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $135.57.

ITT Trading Up 1.0 %

ITT opened at $132.55 on Tuesday. The stock has a fifty day simple moving average of $129.14 and a two-hundred day simple moving average of $117.99. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.80 and a beta of 1.43. ITT Inc. has a 12-month low of $75.82 and a 12-month high of $138.29.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. The business had revenue of $829.10 million during the quarter, compared to the consensus estimate of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 earnings per share. On average, analysts predict that ITT Inc. will post 5.8 EPS for the current year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.319 dividend. This is a boost from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, March 7th. ITT’s dividend payout ratio is currently 25.81%.

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.