Alliancebernstein L.P. Increases Stake in ITT Inc. (NYSE:ITT)

Alliancebernstein L.P. raised its holdings in shares of ITT Inc. (NYSE:ITTGet Rating) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,321,312 shares of the conglomerate’s stock after buying an additional 65,659 shares during the period. Alliancebernstein L.P. owned about 2.71% of ITT worth $237,215,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in ITT during the fourth quarter valued at approximately $3,095,000. Teacher Retirement System of Texas increased its holdings in ITT by 19.0% during the fourth quarter. Teacher Retirement System of Texas now owns 16,600 shares of the conglomerate’s stock valued at $1,696,000 after buying an additional 2,654 shares during the last quarter. Rhumbline Advisers increased its holdings in ITT by 1.3% during the fourth quarter. Rhumbline Advisers now owns 224,810 shares of the conglomerate’s stock valued at $22,973,000 after buying an additional 2,926 shares during the last quarter. Transcend Wealth Collective LLC purchased a new stake in ITT during the fourth quarter valued at approximately $2,176,000. Finally, Credit Suisse AG increased its holdings in ITT by 4.0% during the third quarter. Credit Suisse AG now owns 81,347 shares of the conglomerate’s stock valued at $6,983,000 after buying an additional 3,158 shares during the last quarter. 95.64% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:ITT opened at $72.99 on Friday. The firm has a fifty day moving average price of $73.05 and a 200 day moving average price of $86.85. ITT Inc. has a fifty-two week low of $67.16 and a fifty-two week high of $105.54. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 1.29 and a beta of 1.51.

ITT (NYSE:ITTGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The conglomerate reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. ITT had a net margin of 10.92% and a return on equity of 15.90%. The business had revenue of $726.20 million during the quarter, compared to analyst estimates of $695.93 million. During the same quarter last year, the business earned $1.06 earnings per share. ITT’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that ITT Inc. will post 4.42 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Friday, June 17th will be given a dividend of $0.264 per share. The ex-dividend date is Thursday, June 16th. This represents a $1.06 annualized dividend and a yield of 1.45%. ITT’s dividend payout ratio (DPR) is currently 29.94%.

ITT has been the subject of a number of recent analyst reports. Oppenheimer lowered shares of ITT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 28th. KeyCorp dropped their price target on shares of ITT from $113.00 to $100.00 in a research report on Wednesday, May 4th. The Goldman Sachs Group dropped their price target on shares of ITT from $109.00 to $94.00 and set a “buy” rating for the company in a research report on Thursday, April 7th. Citigroup dropped their price target on shares of ITT from $124.00 to $112.00 in a research report on Friday, February 11th. Finally, StockNews.com initiated coverage on shares of ITT in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, ITT currently has an average rating of “Buy” and a consensus target price of $103.36.

ITT Profile (Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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