Machina Capital S.A.S. Takes Position in ITT Inc. (NYSE:ITT)

Key Points

• Machina Capital S.A.S. has acquired a new position in ITT Inc., purchasing 2,017 shares valued at approximately $261,000.
• Several institutional investors have significantly increased their stakes in ITT, with Versant Capital Management Inc. boosting its holdings by 3,513.3% during the first quarter.
• Following recent earnings, analysts have raised price targets for ITT stock, with targets reaching as high as $197.00 from Stifel Nicolaus.

Machina Capital S.A.S. bought a new position in ITT Inc. (NYSE:ITT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,017 shares of the conglomerate's stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ITT. Quarry LP increased 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 in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in ITT during the fourth quarter valued at about $59,000. Versant Capital Management Inc boosted its holdings in shares of ITT by 3,513.3% in the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock worth $70,000 after buying an additional 527 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of ITT by 72.7% in the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock worth $103,000 after buying an additional 331 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of ITT by 13.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock worth $107,000 after acquiring an additional 87 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Price Performance

Shares of ITT stock opened at $161.33 on Friday. The firm has a market cap of $12.70 billion, a P/E ratio of 25.65, a PEG ratio of 2.01 and a beta of 1.35. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.79. The stock's 50-day moving average is $154.46 and its two-hundred day moving average is $144.33.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.01. The firm had revenue of $913.00 million for the quarter, compared to the consensus estimate of $901.22 million. ITT had a return on equity of 17.75% and a net margin of 14.19%. The firm's revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.42 earnings per share. As a group, research analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were issued a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Monday, June 2nd. ITT's dividend payout ratio is presently 22.26%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ITT. Stifel Nicolaus raised their price objective on shares of ITT from $171.00 to $197.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. KeyCorp increased their price objective on ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. The Goldman Sachs Group lifted their target price on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Citigroup reissued a "buy" rating and issued a $186.00 price target (up from $159.00) on shares of ITT in a research report on Monday, July 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $173.25.

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.

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