Point72 Hong Kong Ltd Takes Position in ITT Inc. (NYSE:ITT)

Point72 Hong Kong Ltd bought a new stake in ITT Inc. (NYSE:ITT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,134 shares of the conglomerate's stock, valued at approximately $591,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in ITT in the fourth quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new position in ITT in the fourth quarter valued at about $34,000. Quarry LP lifted its position in ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after acquiring an additional 125 shares in the last quarter. V Square Quantitative Management LLC lifted its position in ITT by 79.1% in the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock valued at $59,000 after acquiring an additional 182 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in ITT in the 4th quarter worth $59,000. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Performance

ITT stock traded down $0.70 during midday trading on Tuesday, reaching $152.61. 518,191 shares of the company's stock traded hands, compared to its average volume of 454,197. The company has a 50-day moving average price of $133.92 and a two-hundred day moving average price of $142.80. 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 $105.64 and a 52 week high of $161.13. The firm has a market capitalization of $12.01 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, beating 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 business had revenue of $913.00 million for the quarter, compared to analysts' expectations of $901.22 million. During the same quarter in the prior year, the firm earned $1.42 earnings per share. The firm's revenue was up .3% on a year-over-year basis. As a group, equities analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Monday, June 2nd. ITT's dividend payout ratio (DPR) is currently 22.26%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ITT. Stifel Nicolaus upped their price objective on ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a research report on Friday. StockNews.com raised ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group boosted their price objective on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday. UBS Group raised their target price on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Citigroup cut their price target on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ITT has a consensus rating of "Moderate Buy" and a consensus target price of $164.86.

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.