Assenagon Asset Management S.A. Boosts Stock Holdings in ITT Inc. (NYSE:ITT)

Assenagon Asset Management S.A. increased its position in ITT Inc. (NYSE:ITT) by 19.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,551 shares of the conglomerate’s stock after acquiring an additional 2,917 shares during the period. Assenagon Asset Management S.A.’s holdings in ITT were worth $2,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in ITT during the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new stake in ITT during the 4th quarter valued at $34,000. Quarry LP lifted its holdings in shares of ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after buying an additional 125 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of ITT by 79.1% in the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock worth $59,000 after buying an additional 182 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of ITT by 291.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate’s stock worth $59,000 after acquiring an additional 309 shares during the period. 91.59% of the stock is owned by institutional investors.

ITT Trading Up 0.9%

ITT opened at $151.78 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $142.43 and its two-hundred day moving average is $142.42. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13. The company has a market capitalization of $11.95 billion, a P/E ratio of 24.09, a PEG ratio of 1.89 and a beta of 1.35.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, beating the consensus estimate of $1.44 by $0.01. ITT had a return on equity of 18.03% and a net margin of 14.27%. The firm had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. During the same quarter in the prior year, the business posted $1.42 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.351 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.93%. ITT’s payout ratio is 22.26%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen raised shares of ITT from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. KeyCorp upped their price objective on ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Stifel Nicolaus raised their target price on ITT from $161.00 to $171.00 and gave the stock a “buy” rating in a report on Friday, May 16th. The Goldman Sachs Group boosted their price objective on ITT from $160.00 to $177.00 and gave the company a “buy” rating in a research report on Monday, May 19th. Finally, Citigroup decreased their price objective on ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $165.50.

ITT Company 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.