Algert Global LLC Grows Stock Holdings in ITT Inc. (NYSE:ITT)

Algert Global LLC increased its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 41.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,501 shares of the conglomerate's stock after buying an additional 7,467 shares during the period. Algert Global LLC's holdings in ITT were worth $3,644,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its stake in shares of ITT by 86.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,383 shares of the conglomerate's stock worth $626,000 after buying an additional 2,033 shares during the period. Freestone Grove Partners LP purchased a new position in ITT during the fourth quarter valued at $27,614,000. Kapitalo Investimentos Ltda purchased a new position in ITT during the fourth quarter valued at $59,000. Schonfeld Strategic Advisors LLC grew its position in shares of ITT by 197.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 207,974 shares of the conglomerate's stock valued at $29,715,000 after purchasing an additional 138,132 shares during the period. Finally, Northern Trust Corp increased its stake in shares of ITT by 33.3% during the fourth quarter. Northern Trust Corp now owns 755,915 shares of the conglomerate's stock worth $108,005,000 after purchasing an additional 188,794 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Stock Down 0.2 %

Shares of ITT traded down $0.26 during midday trading on Friday, hitting $143.18. The company had a trading volume of 332,796 shares, compared to its average volume of 449,386. The company's 50-day simple moving average is $132.10 and its 200-day simple moving average is $142.47. The firm has a market capitalization of $11.27 billion, a P/E ratio of 22.73, a P/E/G ratio of 1.89 and a beta of 1.36. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.13. 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 (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, beating the consensus estimate of $1.44 by $0.01. ITT had a net margin of 14.27% and a return on equity of 18.03%. 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 firm posted $1.42 earnings per share. The firm's revenue was up .3% on a year-over-year basis. As a group, sell-side analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.351 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.98%. ITT's payout ratio is 22.26%.

Analysts Set New Price Targets

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

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.