Select Equity Group L.P. Has $652.24 Million Stock Holdings in ITT Inc. (NYSE:ITT)

Select Equity Group L.P. increased its stake in ITT Inc. (NYSE:ITT - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,564,926 shares of the conglomerate's stock after buying an additional 326,947 shares during the period. ITT comprises about 2.6% of Select Equity Group L.P.'s investment portfolio, making the stock its 13th largest position. Select Equity Group L.P. owned approximately 5.60% of ITT worth $652,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of ITT during the fourth quarter valued at $134,433,000. Raymond James Financial Inc. acquired a new position in shares of ITT during the fourth quarter valued at approximately $73,762,000. T. Rowe Price Investment Management Inc. increased its stake in shares of ITT by 63.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate's stock valued at $133,056,000 after acquiring an additional 360,123 shares during the period. Freestone Grove Partners LP acquired a new position in shares of ITT during the fourth quarter valued at approximately $27,614,000. Finally, Northern Trust Corp increased its stake in shares of ITT by 33.3% during the fourth quarter. Northern Trust Corp now owns 755,915 shares of the conglomerate's stock valued at $108,005,000 after acquiring an additional 188,794 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ITT shares. Stifel Nicolaus upped their price target on shares of ITT from $161.00 to $171.00 and gave the company a "buy" rating in a report on Friday. Citigroup cut their price objective on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 14th. StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. UBS Group lifted their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group lifted their price objective on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $164.86.

ITT Stock Performance

ITT stock traded down $0.70 during midday trading on Tuesday, hitting $152.61. 518,191 shares of the company traded hands, compared to its average volume of 454,197. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The business has a 50 day simple moving average of $133.92 and a 200-day simple moving average of $142.80. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $913.00 million for the quarter, compared to the consensus estimate of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. ITT's quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company posted $1.42 earnings per share. As a group, equities research analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a $0.351 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 annualized dividend and a yield of 0.92%. ITT's dividend payout ratio (DPR) is currently 22.26%.

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.