Graham Capital Management L.P. Takes $3.50 Million Position in ITT Inc. (NYSE:ITT)

Graham Capital Management L.P. purchased a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 24,500 shares of the conglomerate's stock, valued at approximately $3,501,000.

Several other hedge funds have also added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. increased its position in shares of ITT by 0.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate's stock valued at $1,641,000 after purchasing an additional 81 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in ITT by 10.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate's stock worth $183,000 after purchasing an additional 116 shares during the period. Tectonic Advisors LLC boosted its stake in ITT by 4.2% in the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate's stock worth $435,000 after purchasing an additional 123 shares during the period. CIBC Asset Management Inc boosted its stake in ITT by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate's stock worth $362,000 after purchasing an additional 125 shares during the period. Finally, Quarry LP boosted its stake in ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ITT shares. Citigroup dropped their price target on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus lifted their price target on ITT from $148.00 to $161.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. StockNews.com raised ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. UBS Group lifted their price target on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, KeyCorp boosted their target price on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $161.86.

ITT Stock Down 0.4%

Shares of NYSE ITT traded down $0.65 during trading on Wednesday, reaching $149.80. The company had a trading volume of 408,992 shares, compared to its average volume of 450,993. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The stock has a market cap of $11.79 billion, a PE ratio of 23.78, a P/E/G ratio of 1.89 and a beta of 1.36. The business's 50-day moving average is $132.58 and its 200 day moving average is $142.57. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.01. ITT had a return on equity of 18.03% and a net margin of 14.27%. The firm had revenue of $913.00 million for the quarter, compared to analysts' expectations of $901.22 million. During the same period in the prior year, the firm posted $1.42 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. As a group, equities analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Monday, June 2nd. ITT's payout ratio is currently 22.26%.

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.