Hudson Bay Capital Management LP Purchases New Position in ITT Inc. (NYSE:ITT)

Hudson Bay Capital Management LP acquired a new position in ITT Inc. (NYSE:ITT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 83,000 shares of the conglomerate's stock, valued at approximately $11,859,000. Hudson Bay Capital Management LP owned approximately 0.10% of ITT at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Invesco Ltd. lifted its stake in ITT by 12.2% in the 4th quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate's stock worth $222,947,000 after acquiring an additional 169,054 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of ITT by 14.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate's stock worth $195,256,000 after purchasing an additional 169,944 shares in the last quarter. Norges Bank purchased a new stake in shares of ITT during the 4th quarter worth about $134,433,000. T. Rowe Price Investment Management Inc. raised its stake in shares of ITT by 63.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate's stock worth $133,056,000 after purchasing an additional 360,123 shares in the last quarter. Finally, Boston Partners raised its stake in shares of ITT by 7.0% during the 4th quarter. Boston Partners now owns 930,069 shares of the conglomerate's stock worth $132,915,000 after purchasing an additional 61,132 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Performance

ITT traded up $2.81 during midday trading on Friday, reaching $152.99. The company's stock had a trading volume of 630,596 shares, compared to its average volume of 451,850. The stock has a market cap of $12.04 billion, a P/E ratio of 24.28, a PEG ratio of 1.89 and a beta of 1.36. The company has a fifty day simple moving average of $133.49 and a 200 day simple moving average of $142.71. 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 twelve month low of $105.64 and a twelve month high of $161.13.

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, beating analysts' consensus estimates of $1.44 by $0.01. The firm had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. The company's revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 EPS. Research analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, June 2nd. ITT's payout ratio is presently 22.26%.

Analysts Set New Price Targets

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

ITT 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.