Interval Partners LP Takes $13.91 Million Position in ITT Inc. (NYSE:ITT)

Interval Partners LP bought a new position in shares of ITT Inc. (NYSE:ITT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 97,353 shares of the conglomerate's stock, valued at approximately $13,910,000. Interval Partners LP owned about 0.12% of ITT as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ITT. Invesco Ltd. increased its position in shares of ITT by 12.2% during the fourth quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate's stock worth $222,947,000 after purchasing an additional 169,054 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of ITT by 14.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate's stock valued at $195,256,000 after acquiring an additional 169,944 shares during the period. Norges Bank acquired a new stake in ITT during the 4th quarter worth $134,433,000. T. Rowe Price Investment Management Inc. boosted its stake in 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 during the period. Finally, Boston Partners raised its holdings in shares of ITT by 7.0% in the fourth quarter. Boston Partners now owns 930,069 shares of the conglomerate's stock valued at $132,915,000 after buying an additional 61,132 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ITT shares. UBS Group raised their price target on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, February 7th. StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a research note on Wednesday. Stifel Nicolaus lifted their price objective on shares of ITT from $148.00 to $161.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. KeyCorp upped their price objective 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, Citigroup lowered their target price on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $161.86.

ITT Price Performance

Shares of NYSE ITT opened at $143.18 on Friday. The company's fifty day moving average is $132.10 and its two-hundred day moving average is $142.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The firm has a market capitalization of $11.27 billion, a P/E ratio of 22.73, a PEG ratio of 1.89 and a beta of 1.36. ITT Inc. has a one year low of $105.64 and a one year high of $161.13.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results 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 net margin of 14.27% and a return on equity of 18.03%. The company had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. During the same period in the prior year, the business posted $1.42 earnings per share. The firm's revenue for the quarter was up .3% compared to the same quarter last year. Analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given 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 0.98%. 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.

Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.