Algert Global LLC Purchases Shares of 8,964 ITT Inc. (NYSE:ITT)

Algert Global LLC bought a new position in shares of ITT Inc. (NYSE:ITT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,964 shares of the conglomerate’s stock, valued at approximately $1,158,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ITT. Mawer Investment Management Ltd. acquired a new stake in shares of ITT during the second quarter worth $49,043,000. Select Equity Group L.P. lifted its holdings in shares of ITT by 11.7% during the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after buying an additional 351,206 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of ITT by 73.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock worth $92,751,000 after buying an additional 288,671 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of ITT by 200.4% during the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after buying an additional 262,470 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after buying an additional 131,708 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ITT shares. TD Cowen boosted their price target on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. KeyCorp boosted their price target on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT currently has an average rating of “Buy” and a consensus price target of $151.00.

ITT Stock Performance

ITT stock opened at $148.21 on Friday. ITT Inc. has a 12-month low of $91.94 and a 12-month 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 business’s 50-day moving average price is $137.66 and its two-hundred day moving average price is $134.01. The stock has a market cap of $12.20 billion, a PE ratio of 29.06, a P/E/G ratio of 1.89 and a beta of 1.40.

ITT (NYSE:ITT) last released its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. The firm had revenue of $905.90 million for the quarter, compared to analysts’ expectations of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 earnings per share. As a group, 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. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is currently 24.90%.

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.