Select Equity Group L.P. Increases Position in ITT Inc. (NYSE:ITT)

Select Equity Group L.P. lifted its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 7.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,564,926 shares of the conglomerate's stock after buying an additional 326,947 shares during the quarter. ITT makes up about 2.6% of Select Equity Group L.P.'s holdings, making the stock its 13th largest position. Select Equity Group L.P. owned about 5.60% of ITT worth $652,237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of ITT by 13.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock worth $107,000 after buying an additional 87 shares in the last quarter. Point72 Asset Management L.P. grew its stake in ITT by 809.8% in the 4th quarter. Point72 Asset Management L.P. now owns 66,376 shares of the conglomerate's stock worth $9,484,000 after acquiring an additional 59,080 shares during the period. Point72 Hong Kong Ltd acquired a new position in ITT in the 4th quarter valued at $591,000. ProShare Advisors LLC lifted its stake in shares of ITT by 7.0% during the 4th quarter. ProShare Advisors LLC now owns 3,812 shares of the conglomerate's stock worth $545,000 after purchasing an additional 251 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of ITT by 24.2% during the 4th quarter. Quantinno Capital Management LP now owns 23,732 shares of the conglomerate's stock worth $3,391,000 after purchasing an additional 4,630 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of recent analyst reports. UBS Group boosted their target price on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a report on Friday, February 7th. Citigroup dropped their price objective on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group lifted their target price on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, KeyCorp lifted their price objective on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.50.

ITT Stock Down 0.3%

Shares of ITT traded down $0.45 during midday trading on Thursday, reaching $148.61. 81,667 shares of the company were exchanged, compared to its average volume of 572,765. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $161.13. The stock has a 50-day moving average price of $134.66 and a 200-day moving average price of $142.92. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping the consensus estimate 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%. ITT's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company 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 announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a $0.351 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.94%. ITT's dividend payout ratio (DPR) is presently 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.