Squarepoint Ops LLC Acquires New Holdings in ITT Inc. (NYSE:ITT)

Squarepoint Ops LLC acquired a new stake in ITT Inc. (NYSE:ITT) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,914 shares of the conglomerate’s stock, valued at approximately $2,831,000.

Other large investors have also added to or reduced their stakes in the company. Lynx Investment Advisory bought a new position in ITT in the 2nd quarter valued at approximately $27,000. Rise Advisors LLC increased its position in ITT by 788.5% during the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 205 shares during the period. Headlands Technologies LLC acquired a new stake in ITT during the 2nd quarter valued at approximately $32,000. Brown Brothers Harriman & Co. acquired a new stake in ITT during the 2nd quarter valued at approximately $36,000. Finally, Massmutual Trust Co. FSB ADV increased its position in ITT by 71.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 145 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $148.01 on Thursday. The company has a market cap of $12.18 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.89 and a beta of 1.40. ITT Inc. has a 52 week low of $91.94 and a 52 week high of $152.21. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $137.51 and a 200-day moving average of $133.92.

ITT (NYSE:ITT) last posted its quarterly earnings results 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. ITT had a net margin of 12.47% and a return on equity of 18.30%. The business had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. During the same quarter last year, the firm posted $1.33 EPS. ITT’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Tuesday, September 3rd. ITT’s payout ratio is currently 24.90%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ITT shares. TD Cowen increased their target price on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. KeyCorp increased their target price on shares of ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus increased their target price on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price 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.