AlphaCrest Capital Management LLC Takes $1.04 Million Position in ITT Inc. (NYSE:ITT)

AlphaCrest Capital Management LLC purchased a new stake in shares of ITT Inc. (NYSE:ITTGet Rating) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 10,218 shares of the conglomerate’s stock, valued at approximately $1,044,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ITT. National Bank of Canada FI purchased a new stake in shares of ITT during the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC purchased a new stake in shares of ITT during the 4th quarter valued at about $28,000. CWM LLC purchased a new stake in shares of ITT during the 4th quarter valued at about $38,000. Ibex Wealth Advisors purchased a new position in shares of ITT in the third quarter worth approximately $51,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of ITT by 182.1% in the third quarter. First Horizon Advisors Inc. now owns 632 shares of the conglomerate’s stock worth $55,000 after buying an additional 408 shares during the last quarter. 95.64% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Luca Savi sold 10,290 shares of ITT stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $87.44, for a total transaction of $899,757.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

A number of research firms recently issued reports on ITT. Oppenheimer downgraded shares of ITT from an “outperform” rating to a “market perform” rating in a report on Monday, March 28th. KeyCorp dropped their price objective on shares of ITT from $113.00 to $100.00 in a report on Wednesday, May 4th. Citigroup dropped their price objective on shares of ITT from $124.00 to $112.00 in a report on Friday, February 11th. StockNews.com began coverage on shares of ITT in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus dropped their price objective on shares of ITT from $107.00 to $91.00 and set a “buy” rating on the stock in a report on Monday, April 18th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, ITT has a consensus rating of “Buy” and an average price target of $103.17.

NYSE ITT opened at $72.51 on Friday. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.23 and a beta of 1.51. ITT Inc. has a 12 month low of $68.80 and a 12 month high of $105.54. The company’s 50 day moving average is $74.65 and its two-hundred day moving average is $88.84.

ITT (NYSE:ITTGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The conglomerate reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $726.20 million for the quarter, compared to analysts’ expectations of $695.93 million. ITT had a net margin of 10.92% and a return on equity of 15.90%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. Sell-side analysts predict that ITT Inc. will post 4.42 earnings per share for the current fiscal year.

About ITT (Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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