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

AXQ Capital LP lifted its stake in ITT Inc. (NYSE:ITT) by 86.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,539 shares of the conglomerate’s stock after acquiring an additional 1,640 shares during the quarter. AXQ Capital LP’s holdings in ITT were worth $506,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after acquiring an additional 26,133 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ITT by 0.6% during the 3rd 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 in the last quarter. Boston Partners lifted its holdings in ITT by 7.0% during the 4th quarter. Boston Partners now owns 930,069 shares of the conglomerate’s stock worth $132,915,000 after buying an additional 61,132 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in ITT by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate’s stock worth $108,817,000 after buying an additional 3,727 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in 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 buying an additional 27,885 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on ITT. Stifel Nicolaus reduced their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Citigroup reduced their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. KeyCorp increased their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Wolfe Research assumed coverage on shares of ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Finally, StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, ITT has a consensus rating of “Moderate Buy” and an average price target of $168.38.

ITT Price Performance

Shares of ITT opened at $134.83 on Friday. The firm has a fifty day moving average price of $143.61 and a 200 day moving average price of $145.84. The stock has a market cap of $10.97 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

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

ITT Increases Dividend

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

ITT 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.