ITT Inc. (NYSE:ITT) Position Lifted by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP grew its stake in shares of ITT Inc. (NYSE:ITT) by 1,921.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,170 shares of the conglomerate’s stock after acquiring an additional 65,749 shares during the period. ExodusPoint Capital Management LP’s holdings in ITT were worth $9,883,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in ITT by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock valued at $73,913,000 after buying an additional 3,424 shares during the last quarter. AlphaQuest LLC lifted its stake in ITT by 422.7% during the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate’s stock worth $601,000 after purchasing an additional 3,403 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in ITT by 880.0% in the fourth quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate’s stock worth $308,000 after purchasing an additional 1,936 shares during the period. ING Groep NV bought a new stake in ITT during the fourth quarter valued at $1,214,000. Finally, Vest Financial LLC raised its holdings in shares of ITT by 63.8% during the fourth quarter. Vest Financial LLC now owns 17,004 shares of the conglomerate’s stock worth $2,430,000 after purchasing an additional 6,626 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Trading Down 5.5 %

NYSE:ITT opened at $113.03 on Friday. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 17.94, a PEG 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 Inc. has a 1 year low of $109.49 and a 1 year high of $161.13. The business has a fifty day moving average of $139.91 and a 200-day moving average of $145.63.

ITT (NYSE:ITT) last released its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. Equities analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, March 6th. ITT’s dividend payout ratio (DPR) is presently 22.22%.

Analyst Ratings Changes

ITT has been the subject of several research reports. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Citigroup dropped their price target on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Wolfe Research started coverage on ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating for the company. KeyCorp upped their price objective on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus cut their target price on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.29.

ITT Company 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.