GAMMA Investing LLC Acquires 230 Shares of ITT Inc. (NYSE:ITT)

GAMMA Investing LLC boosted its stake in shares of ITT Inc. (NYSE:ITT) by 17.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,533 shares of the conglomerate’s stock after purchasing an additional 230 shares during the period. GAMMA Investing LLC’s holdings in ITT were worth $219,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Select Equity Group L.P. grew its position in shares of ITT by 11.7% during the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after acquiring an additional 351,206 shares during the period. State Street Corp grew its holdings in ITT by 1.1% during the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after purchasing an additional 26,133 shares during the period. Geode Capital Management LLC increased its position in ITT by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after buying an additional 8,223 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ITT by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock valued at $123,338,000 after buying an additional 50,329 shares during the period. Finally, Westfield Capital Management Co. LP grew its stake in shares of ITT by 4.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock worth $100,100,000 after acquiring an additional 27,885 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Up 0.2 %

Shares of ITT stock opened at $143.58 on Wednesday. The company has a market capitalization of $11.70 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41. ITT Inc. has a 52-week low of $114.24 and a 52-week high of $161.13. The business’s fifty day moving average is $149.76 and its 200 day moving average is $142.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58.

ITT (NYSE:ITT) last issued its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.37 EPS. On average, equities research analysts anticipate that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, November 29th. ITT’s payout ratio is 21.67%.

Analysts Set New Price Targets

ITT has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Citigroup boosted their price target on shares of ITT from $176.00 to $183.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Robert W. Baird cut their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Finally, StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $166.75.

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.