Aigen Investment Management LP Acquires Shares of 2,616 ITT Inc. (NYSE:ITT)

Aigen Investment Management LP bought a new position in shares of ITT Inc. (NYSE:ITT – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,616 shares of the conglomerate’s stock, valued at approximately $212,000.

A number of other large investors also recently modified their holdings of the company. Albert D Mason Inc. increased its stake in ITT by 0.5% during the 4th quarter. Albert D Mason Inc. now owns 24,248 shares of the conglomerate’s stock valued at $1,967,000 after purchasing an additional 118 shares in the last quarter. Commerce Bank increased its position in shares of ITT by 1.3% during the fourth quarter. Commerce Bank now owns 9,766 shares of the conglomerate’s stock worth $792,000 after acquiring an additional 124 shares in the last quarter. CVA Family Office LLC raised its holdings in shares of ITT by 32.1% in the 3rd quarter. CVA Family Office LLC now owns 515 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 125 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of ITT by 21.3% in the 3rd quarter. IFP Advisors Inc now owns 740 shares of the conglomerate’s stock worth $44,000 after acquiring an additional 130 shares during the last quarter. Finally, Signaturefd LLC lifted its position in ITT by 14.2% in the 4th quarter. Signaturefd LLC now owns 1,092 shares of the conglomerate’s stock valued at $89,000 after acquiring an additional 136 shares in the last quarter. 90.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of recent research reports. DA Davidson boosted their price objective on ITT from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, February 13th. Stifel Nicolaus lowered their price target on ITT from $107.00 to $106.00 and set a “buy” rating for the company in a research report on Monday, April 17th. StockNews.com assumed coverage on ITT in a research note on Thursday, May 18th. They set a “strong-buy” rating on the stock. KeyCorp increased their target price on shares of ITT from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 10th. Finally, Robert W. Baird boosted their price target on shares of ITT from $100.00 to $101.00 in a report on Friday, May 5th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $96.38.

ITT Price Performance

NYSE ITT opened at $78.69 on Friday. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.29 and a beta of 1.41. The business’s fifty day moving average is $82.57 and its 200-day moving average is $84.65. ITT Inc. has a one year low of $63.77 and a one year high of $95.18.

ITT (NYSE:ITT – Get Rating) last released its earnings results on Thursday, May 4th. The conglomerate reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. ITT had a net margin of 12.82% and a return on equity of 17.85%. The firm had revenue of $797.90 million for the quarter, compared to analysts’ expectations of $777.24 million. During the same period in the previous year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Research analysts expect that ITT Inc. will post 4.85 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 9th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, June 8th. ITT’s dividend payout ratio is currently 24.63%.

Insider Buying and Selling at ITT

In other news, SVP Ryan F. Flynn sold 2,197 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $87.22, for a total transaction of $191,622.34. Following the completion of the transaction, the senior vice president now owns 16,547 shares in the company, valued at approximately $1,443,229.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

ITT Company Profile

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ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions primarily for the transportation, industrial, and energy markets. It operates through the following segments: Motion Technologies, Industrial Process, Connect and Control Technologies, and Corporate and Other.