Millennium Management LLC Decreases Stock Position in ITT Inc. (NYSE:ITT)

Millennium Management LLC lessened its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 34.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 231,049 shares of the conglomerate's stock after selling 118,996 shares during the period. Millennium Management LLC owned approximately 0.28% of ITT worth $33,012,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in ITT in the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in ITT in the fourth quarter worth $34,000. Quarry LP increased its stake in ITT by 101.6% in the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after purchasing an additional 125 shares during the period. V Square Quantitative Management LLC increased its stake in ITT by 79.1% in the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock worth $59,000 after purchasing an additional 182 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new stake in ITT in the fourth quarter worth $59,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup reduced their target price on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. UBS Group increased their target price on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Stifel Nicolaus increased their target price on ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a research note on Friday. StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, KeyCorp raised their price target on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, ITT presently has a consensus rating of "Moderate Buy" and an average price target of $163.29.

ITT Stock Performance

Shares of ITT stock opened at $152.99 on Monday. The firm has a market cap of $12.04 billion, a P/E ratio of 24.28, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.13. The stock's fifty day moving average price is $133.49 and its 200-day moving average price is $142.71.

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 return on equity of 18.03% and a net margin of 14.27%. The firm had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. During the same quarter last year, the firm posted $1.42 earnings per share. The business's revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

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 given a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, June 2nd. ITT's payout ratio is currently 22.26%.

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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