Point72 Asset Management L.P. Purchases 59,080 Shares of ITT Inc. (NYSE:ITT)

Point72 Asset Management L.P. boosted its holdings in ITT Inc. (NYSE:ITT - Free Report) by 809.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 66,376 shares of the conglomerate's stock after buying an additional 59,080 shares during the period. Point72 Asset Management L.P. owned 0.08% of ITT worth $9,484,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Oppenheimer Asset Management Inc. increased its stake in ITT by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate's stock worth $1,641,000 after buying an additional 81 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in ITT by 10.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate's stock worth $183,000 after buying an additional 116 shares in the last quarter. Tectonic Advisors LLC increased its stake in ITT by 4.2% in the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate's stock worth $435,000 after buying an additional 123 shares in the last quarter. CIBC Asset Management Inc increased its stake in ITT by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate's stock worth $362,000 after buying an additional 125 shares in the last quarter. Finally, 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 buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Trading Down 0.6%

NYSE ITT traded down $0.83 during trading hours on Friday, hitting $147.43. 380,826 shares of the company were exchanged, compared to its average volume of 457,560. The stock has a 50-day moving average price of $135.15 and a 200 day moving average price of $142.92. 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 Inc. has a 52 week low of $105.64 and a 52 week high of $161.13. The stock has a market cap of $11.60 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, topping 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 analysts' expectations of $901.22 million. During the same period in the previous year, the firm posted $1.42 earnings per share. The firm's revenue for the quarter was up .3% on a year-over-year basis. Analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

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 paid a dividend of $0.351 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 annualized dividend and a yield of 0.95%. ITT's payout ratio is currently 22.26%.

Analyst Upgrades and Downgrades

ITT has been the subject of several research reports. Citigroup dropped their price objective on shares of ITT from $181.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group increased their price objective on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. Stifel Nicolaus increased their price objective on shares of ITT from $161.00 to $171.00 and gave the company a "buy" rating in a report on Friday, May 16th. Bank of America increased their price objective on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $165.50.

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.