AQR Capital Management LLC Sells 26,993 Shares of ITT Inc. (NYSE:ITT)

AQR Capital Management LLC cut its holdings in ITT Inc. (NYSE:ITT) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 271,372 shares of the conglomerate’s stock after selling 26,993 shares during the quarter. AQR Capital Management LLC’s holdings in ITT were worth $38,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ITT. Rialto Wealth Management LLC purchased a new stake in ITT in the 4th quarter worth approximately $26,000. ORG Wealth Partners LLC purchased a new position in ITT during the 4th quarter valued at $30,000. Whipplewood Advisors LLC bought a new position in ITT in the 4th quarter worth $34,000. Quarry LP lifted its position in shares of ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 125 shares during the period. Finally, V Square Quantitative Management LLC boosted its stake in shares of ITT by 79.1% during the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock valued at $59,000 after purchasing an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Price Performance

ITT opened at $141.63 on Friday. 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 $131.74 and a 200-day moving average price of $142.69. The firm has a market cap of $11.47 billion, a PE ratio of 22.48, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

ITT (NYSE:ITT) last issued its earnings results 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. ITT had a net margin of 14.27% and a return on equity of 18.03%. The firm had revenue of $913.00 million for the quarter, compared to the consensus estimate of $901.22 million. During the same quarter in the prior year, the firm posted $1.42 earnings per share. The business’s revenue was up .3% on a year-over-year basis. Sell-side analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued 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 0.99%. ITT’s payout ratio is 22.22%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. KeyCorp raised their price objective on shares of ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group lifted their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com downgraded ITT from a “buy” rating to a “hold” rating in a report on Friday, April 25th. Citigroup reduced their target price on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Stifel Nicolaus increased their price target on shares of ITT from $148.00 to $161.00 and gave the stock a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $161.86.

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.