Alyeska Investment Group L.P. Reduces Stock Position in ITT Inc. (NYSE:ITT)

Alyeska Investment Group L.P. lessened its holdings in ITT Inc. (NYSE:ITT - Free Report) by 55.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,247 shares of the conglomerate's stock after selling 3,989 shares during the quarter. Alyeska Investment Group L.P.'s holdings in ITT were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. raised its stake in shares of ITT by 12.2% during the fourth quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate's stock valued at $222,947,000 after acquiring an additional 169,054 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in ITT by 14.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate's stock valued at $195,256,000 after acquiring an additional 169,944 shares during the last quarter. Norges Bank acquired a new stake in shares of ITT during the fourth quarter worth $134,433,000. T. Rowe Price Investment Management Inc. boosted 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 last quarter. Finally, Boston Partners grew its holdings in ITT by 7.0% during the 4th quarter. Boston Partners now owns 930,069 shares of the conglomerate's stock worth $132,915,000 after acquiring an additional 61,132 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Down 0.2 %

ITT stock traded down $0.26 during mid-day trading on Friday, reaching $143.18. 332,796 shares of the company traded hands, compared to its average volume of 449,482. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 1.89 and a beta of 1.36. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13. The firm's 50 day moving average price is $132.10 and its 200 day moving average price is $142.49. 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 quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.01. The company had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. The firm's revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $1.42 earnings per share. As a group, equities research analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued 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 dividend payout ratio (DPR) is presently 22.26%.

Analyst Ratings Changes

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

ITT Company 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.