Inceptionr LLC Boosts Stock Position in ITT Inc. (NYSE:ITT)

Inceptionr LLC boosted its holdings in ITT Inc. (NYSE:ITT) by 124.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,904 shares of the conglomerate’s stock after purchasing an additional 6,037 shares during the period. Inceptionr LLC’s holdings in ITT were worth $1,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ITT. Janney Montgomery Scott LLC boosted its position in ITT by 0.7% in the third quarter. Janney Montgomery Scott LLC now owns 28,891 shares of the conglomerate’s stock worth $4,320,000 after purchasing an additional 191 shares during the last quarter. Van ECK Associates Corp boosted its position in ITT by 40.0% in the third quarter. Van ECK Associates Corp now owns 51,996 shares of the conglomerate’s stock worth $7,513,000 after purchasing an additional 14,857 shares during the last quarter. Marks Group Wealth Management Inc lifted its position in shares of ITT by 1.5% during the 3rd quarter. Marks Group Wealth Management Inc now owns 64,094 shares of the conglomerate’s stock valued at $9,583,000 after buying an additional 917 shares during the last quarter. Radnor Capital Management LLC lifted its position in shares of ITT by 6.6% during the 3rd quarter. Radnor Capital Management LLC now owns 3,243 shares of the conglomerate’s stock valued at $485,000 after buying an additional 200 shares during the last quarter. Finally, JB Capital LLC lifted its position in shares of ITT by 5.0% during the 3rd quarter. JB Capital LLC now owns 11,155 shares of the conglomerate’s stock valued at $1,668,000 after buying an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group upped their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. KeyCorp upped their price target on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Citigroup dropped their price target on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Wolfe Research assumed coverage on ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Finally, Stifel Nicolaus dropped their price target on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $168.38.

ITT Stock Performance

NYSE:ITT opened at $139.04 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. ITT Inc. has a 52-week low of $121.01 and a 52-week high of $161.13. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.89 and a beta of 1.42. The business’s fifty day moving average is $145.56 and its 200 day moving average is $146.00.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping 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%. Research analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a $0.351 dividend. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, March 6th. 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.