AQR Capital Management LLC Purchases 131,708 Shares of ITT Inc. (NYSE:ITT)

AQR Capital Management LLC raised its position in shares of ITT Inc. (NYSE:ITT) by 115.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 245,676 shares of the conglomerate’s stock after acquiring an additional 131,708 shares during the quarter. AQR Capital Management LLC owned approximately 0.30% of ITT worth $31,717,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ITT. Corient Private Wealth LLC raised its holdings in ITT by 73.8% in the 4th quarter. Corient Private Wealth LLC now owns 10,523 shares of the conglomerate’s stock worth $1,256,000 after acquiring an additional 4,470 shares during the last quarter. Franklin Resources Inc. raised its holdings in ITT by 142.4% in the 4th quarter. Franklin Resources Inc. now owns 15,924 shares of the conglomerate’s stock worth $1,900,000 after acquiring an additional 9,354 shares during the last quarter. US Bancorp DE raised its holdings in ITT by 5.4% in the 4th quarter. US Bancorp DE now owns 14,983 shares of the conglomerate’s stock worth $1,788,000 after acquiring an additional 761 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in ITT by 12.6% in the 4th quarter. Allianz Asset Management GmbH now owns 52,083 shares of the conglomerate’s stock worth $6,215,000 after acquiring an additional 5,847 shares during the last quarter. Finally, KBC Group NV purchased a new position in ITT in the 4th quarter worth approximately $175,000. 91.59% of the stock is owned by institutional investors.

ITT Stock Performance

ITT stock opened at $150.00 on Monday. The company has a 50 day moving average price of $136.99 and a 200-day moving average price of $133.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. ITT Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $152.21. The company has a market capitalization of $12.35 billion, a PE ratio of 29.41, a P/E/G ratio of 1.89 and a beta of 1.40.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.03. The company had revenue of $905.90 million for the quarter, compared to analyst estimates of $916.38 million. ITT had a net margin of 12.47% and a return on equity of 18.30%. ITT’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $1.33 earnings per share. As a group, equities analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.85%. The ex-dividend date is Tuesday, September 3rd. ITT’s dividend payout ratio is currently 24.90%.

Analyst Upgrades and Downgrades

ITT has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. TD Cowen boosted their target price on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, KeyCorp boosted their target price on shares of ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $151.00.

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.