ITT Inc. (NYSE:ITT) Shares Bought by AXQ Capital LP

AXQ Capital LP boosted its holdings in shares of ITT Inc. (NYSE:ITT) by 86.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,539 shares of the conglomerate’s stock after purchasing an additional 1,640 shares during the period. AXQ Capital LP’s holdings in ITT were worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in ITT during the fourth quarter valued at $26,000. Resources Management Corp CT ADV acquired a new position in shares of ITT in the third quarter worth about $30,000. ORG Wealth Partners LLC acquired a new position in shares of ITT in the fourth quarter worth about $30,000. Whipplewood Advisors LLC acquired a new position in shares of ITT in the fourth quarter worth about $34,000. Finally, Private Trust Co. NA raised its position in shares of ITT by 232.2% in the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock worth $45,000 after acquiring an additional 209 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on ITT. Stifel Nicolaus decreased their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Wolfe Research began coverage on shares of ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating for the company. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Citigroup cut their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, KeyCorp boosted their target price on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $168.38.

ITT Stock Down 0.2 %

Shares of NYSE ITT opened at $134.83 on Friday. ITT Inc. has a 12-month low of $121.01 and a 12-month high of $161.13. The stock has a market cap of $10.97 billion, a PE ratio of 21.40, a P/E/G ratio of 1.89 and a beta of 1.42. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $143.61 and a 200 day moving average of $145.84.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, sell-side analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is currently 22.22%.

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.