Y Intercept Hong Kong Ltd Takes Position in ITT Inc. (NYSE:ITT)

Y Intercept Hong Kong Ltd acquired a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,396 shares of the conglomerate's stock, valued at approximately $1,214,000.

Several other hedge funds have also recently made changes to their positions in the company. Merit Financial Group LLC purchased a new position in ITT during the first quarter valued at approximately $273,000. Sequoia Financial Advisors LLC grew its position in ITT by 10.2% during the first quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock worth $3,853,000 after buying an additional 2,765 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of ITT by 19.9% during the first quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate's stock worth $2,267,000 after purchasing an additional 2,917 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in ITT by 22.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,049 shares of the conglomerate's stock valued at $1,293,000 after purchasing an additional 1,659 shares during the last quarter. Finally, Southeast Asset Advisors LLC lifted its position in ITT by 14.3% in the 4th quarter. Southeast Asset Advisors LLC now owns 32,792 shares of the conglomerate's stock worth $4,685,000 after buying an additional 4,097 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ITT. KeyCorp boosted their price objective on shares of ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Citigroup reaffirmed a "buy" rating and set a $186.00 price objective (up from $159.00) on shares of ITT in a research report on Monday, July 14th. Bank of America lifted their price target on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group lifted their price target on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $173.25.

ITT Price Performance

Shares of ITT stock traded up $2.36 during trading on Friday, hitting $161.33. 221,537 shares of the company's stock traded hands, compared to its average volume of 384,158. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.79. The stock has a market capitalization of $12.70 billion, a P/E ratio of 25.65, a PEG ratio of 2.01 and a beta of 1.35. The business has a 50-day simple moving average of $154.46 and a 200-day simple moving average of $144.33.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping the consensus estimate of $1.44 by $0.01. ITT had a return on equity of 17.75% and a net margin of 14.19%. The company had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. During the same quarter in the previous year, the company posted $1.42 earnings per share. ITT's revenue was up .3% compared to the same quarter last year. On average, equities analysts predict 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 was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were given a dividend of $0.351 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.87%. 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.