Susquehanna Fundamental Investments LLC Buys New Shares in ITT Inc. (NYSE:ITT)

Susquehanna Fundamental Investments LLC purchased a new stake in ITT Inc. (NYSE:ITT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 22,055 shares of the conglomerate's stock, valued at approximately $3,151,000.

A number of other hedge funds also recently made changes to their positions in ITT. Invesco Ltd. increased its holdings 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 buying an additional 169,054 shares in the last quarter. Alliancebernstein L.P. increased its holdings in ITT by 14.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate's stock valued at $195,256,000 after purchasing an additional 169,944 shares in the last quarter. Norges Bank bought a new position in ITT in the 4th quarter valued at $134,433,000. T. Rowe Price Investment Management Inc. increased its stake in shares of ITT by 63.1% in 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 buying an additional 360,123 shares in the last quarter. 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. Institutional investors and hedge funds own 91.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ITT shares. UBS Group upped their target price 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. Citigroup lowered their target price on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 14th. KeyCorp upped their price target on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday. Stifel Nicolaus lifted their price objective on ITT from $148.00 to $161.00 and gave the stock a "buy" rating in a research report on Friday. Finally, StockNews.com downgraded shares of ITT from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, ITT has a consensus rating of "Moderate Buy" and an average price target of $161.86.

ITT Trading Up 2.7 %

ITT stock traded up $3.67 during midday trading on Friday, hitting $141.63. 912,196 shares of the company's stock were exchanged, compared to its average volume of 450,510. ITT Inc. has a one year low of $105.64 and a one year high of $161.13. The stock's fifty day moving average price is $131.74 and its 200-day moving average price is $142.69. The company has a market cap of $11.47 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40.

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, topping analysts' consensus estimates of $1.44 by $0.01. The firm had revenue of $913.00 million during the quarter, compared to analysts' expectations 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 in the prior year, the company earned $1.42 EPS. Research analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business 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 $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, June 2nd. ITT's payout ratio is 22.22%.

About ITT

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.