Woodline Partners LP Purchases 81,693 Shares of ITT Inc. (NYSE:ITT)

Woodline Partners LP raised its stake in ITT Inc. (NYSE:ITT) by 228.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 117,384 shares of the conglomerate’s stock after acquiring an additional 81,693 shares during the quarter. Woodline Partners LP’s holdings in ITT were worth $16,772,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ITT. Norges Bank bought a new stake in ITT in the fourth quarter valued at $134,433,000. Raymond James Financial Inc. bought a new stake in ITT in the fourth quarter valued at $73,762,000. T. Rowe Price Investment Management Inc. grew its position in 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 acquiring an additional 360,123 shares during the period. Select Equity Group L.P. grew its holdings in shares of ITT by 7.7% during the fourth quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate’s stock worth $652,237,000 after purchasing an additional 326,947 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of ITT during the fourth quarter worth $27,614,000. 91.59% of the stock is currently owned by institutional investors.

ITT Price Performance

ITT stock opened at $149.18 on Thursday. The business’s 50-day simple moving average is $134.66 and its 200 day simple moving average is $142.92. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 1.89 and a beta of 1.36. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.01. ITT had a return on equity of 18.03% and a net margin of 14.27%. The business had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $901.22 million. During the same quarter last year, the business earned $1.42 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. As a group, research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Monday, June 2nd. ITT’s payout ratio is 22.26%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Bank of America increased their target price on ITT from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group increased their target price on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. The Goldman Sachs Group increased their target price on ITT from $160.00 to $177.00 and gave the stock a “buy” rating in a report on Monday. Citigroup decreased their target price on ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.50.

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.