Woodline Partners LP Acquires 81,693 Shares of ITT Inc. (NYSE:ITT)

Woodline Partners LP lifted its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 228.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,384 shares of the conglomerate's stock after purchasing an additional 81,693 shares during the period. Woodline Partners LP owned 0.14% of ITT worth $16,772,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. iSAM Funds UK Ltd increased its position in shares of ITT by 40.7% during the fourth quarter. iSAM Funds UK Ltd now owns 4,868 shares of the conglomerate's stock worth $696,000 after acquiring an additional 1,407 shares in the last quarter. Sovereign s Capital Management LLC bought a new position in ITT in the 4th quarter worth approximately $712,000. Select Equity Group L.P. boosted its holdings in ITT by 7.7% in the 4th quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock worth $652,237,000 after buying an additional 326,947 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in ITT by 13.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock valued at $107,000 after purchasing an additional 87 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in shares of ITT by 809.8% during the 4th quarter. Point72 Asset Management L.P. now owns 66,376 shares of the conglomerate's stock worth $9,484,000 after acquiring an additional 59,080 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Upgrades and Downgrades

ITT has been the subject of several recent research reports. Citigroup lowered their price target on shares of ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. 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 research report on Wednesday, May 21st. KeyCorp increased their price target on shares of ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, UBS Group increased their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, ITT has an average rating of "Moderate Buy" and a consensus target price of $165.50.

ITT Price Performance

Shares of NYSE:ITT traded up $4.05 on Tuesday, reaching $151.40. The company's stock had a trading volume of 88,952 shares, compared to its average volume of 568,566. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $161.13. The company has a market cap of $11.91 billion, a P/E ratio of 24.02, a PEG ratio of 1.89 and a beta of 1.36. The company has a 50-day simple moving average of $135.36 and a 200 day simple moving average of $142.82. 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 released its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.01. The firm had revenue of $913.00 million during 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 business's revenue was up .3% on a year-over-year basis. During the same quarter last year, the business earned $1.42 EPS. As a group, equities research analysts anticipate 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 0.93%. ITT's payout ratio is 22.26%.

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.