TimesSquare Capital Management LLC Has $22.63 Million Position in ITT Inc. (NYSE:ITT)

TimesSquare Capital Management LLC decreased its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 41.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,625 shares of the conglomerate's stock after selling 136,645 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.23% of ITT worth $22,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its stake in shares of ITT by 101.0% during the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate's stock worth $48,000 after purchasing an additional 204 shares during the period. Clearstead Advisors LLC lifted its holdings in shares of ITT by 81.7% during the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate's stock worth $54,000 after buying an additional 250 shares in the last quarter. Bfsg LLC bought a new stake in shares of ITT in the fourth quarter valued at about $73,000. GAMMA Investing LLC acquired a new position in shares of ITT in the fourth quarter valued at about $94,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in ITT by 3,528.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 907 shares of the conglomerate's stock worth $108,000 after acquiring an additional 882 shares during the period. 91.59% of the stock is owned by institutional investors.

ITT Price Performance

Shares of ITT stock traded up $1.78 on Wednesday, reaching $136.41. The company had a trading volume of 716,674 shares, compared to its average volume of 380,691. The business's 50-day moving average is $129.97 and its 200 day moving average is $119.48. ITT Inc. has a one year low of $75.82 and a one year high of $138.29. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $11.23 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. The business had revenue of $910.60 million during the quarter, compared to the consensus estimate of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. The firm's revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 EPS. Equities research analysts forecast that ITT Inc. will post 5.8 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.319 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.94%. ITT's dividend payout ratio is currently 25.10%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ITT. KeyCorp increased their target price on shares of ITT from $136.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Citigroup boosted their price target on ITT from $139.00 to $157.00 and gave the company a "buy" rating in a research note on Monday, April 8th. DA Davidson increased their price objective on shares of ITT from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Tuesday, March 26th. Stifel Nicolaus raised their target price on shares of ITT from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, April 17th. Finally, StockNews.com lowered shares of ITT from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 6th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, ITT has an average rating of "Buy" and an average target price of $138.38.

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.

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