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

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

A number of other institutional investors have also recently modified their holdings of ITT. Norges Bank acquired a new position in ITT during the fourth quarter worth $134,433,000. Raymond James Financial Inc. purchased a new stake in ITT during the fourth quarter valued at about $73,762,000. T. Rowe Price Investment Management Inc. grew its position in ITT by 63.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate's stock valued at $133,056,000 after acquiring an additional 360,123 shares during the period. Freestone Grove Partners LP purchased a new stake in ITT during the fourth quarter valued at about $27,614,000. Finally, Northern Trust Corp grew its position in ITT by 33.3% during the fourth quarter. Northern Trust Corp now owns 755,915 shares of the conglomerate's stock valued at $108,005,000 after acquiring an additional 188,794 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Stock Performance

Shares of ITT stock traded up $0.22 during trading on Thursday, reaching $149.28. The company's stock had a trading volume of 59,458 shares, compared to its average volume of 453,524. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The business's fifty day moving average price is $134.66 and its 200-day moving average price is $142.92. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. ITT Inc. has a one year low of $105.64 and a one year high of $161.13.

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

ITT Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ITT. KeyCorp upped their target price on ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Citigroup decreased their target price on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group boosted their price target on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research note on Monday. Finally, UBS Group boosted 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $165.50.

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.