Quarry LP Boosts Stock Holdings in ITT Inc. (NYSE:ITT)

Quarry LP boosted its position in ITT Inc. (NYSE:ITT) by 3,376.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 591 shares of the conglomerate’s stock after buying an additional 574 shares during the quarter. Quarry LP’s holdings in ITT were worth $76,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ITT. Allianz Asset Management GmbH raised its stake in ITT by 12.6% in the 4th quarter. Allianz Asset Management GmbH now owns 52,083 shares of the conglomerate’s stock valued at $6,215,000 after acquiring an additional 5,847 shares during the period. KBC Group NV bought a new stake in shares of ITT in the fourth quarter valued at approximately $175,000. First Trust Advisors LP raised its position in shares of ITT by 13.9% in the fourth quarter. First Trust Advisors LP now owns 411,752 shares of the conglomerate’s stock valued at $49,130,000 after purchasing an additional 50,280 shares during the period. Capital International Investors boosted its holdings in ITT by 0.3% in the 4th quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock worth $1,123,533,000 after buying an additional 29,057 shares during the period. Finally, Capital International Sarl grew its stake in ITT by 8.7% in the 4th quarter. Capital International Sarl now owns 46,183 shares of the conglomerate’s stock valued at $5,511,000 after buying an additional 3,707 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Up 0.1 %

Shares of NYSE ITT opened at $148.01 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $137.51 and a 200-day moving average of $133.92. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.89 and a beta of 1.40. ITT Inc. has a 12 month low of $91.94 and a 12 month high of $152.21.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. The business had revenue of $905.90 million during the quarter, compared to analysts’ expectations of $916.38 million. ITT had a net margin of 12.47% and a return on equity of 18.30%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.33 EPS. Sell-side analysts expect that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

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

Analysts Set New Price Targets

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