Interval Partners LP Buys Shares of 97,353 ITT Inc. (NYSE:ITT)

Interval Partners LP purchased a new position in shares of ITT Inc. (NYSE:ITT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 97,353 shares of the conglomerate’s stock, valued at approximately $13,910,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in ITT during the fourth quarter worth approximately $134,433,000. Raymond James Financial Inc. purchased a new position in ITT during the fourth quarter worth about $73,762,000. T. Rowe Price Investment Management Inc. lifted its position in ITT by 63.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate’s stock worth $133,056,000 after buying an additional 360,123 shares during the period. Freestone Grove Partners LP acquired a new stake in ITT in the 4th quarter worth about $27,614,000. Finally, Northern Trust Corp grew its holdings in ITT by 33.3% in the 4th quarter. Northern Trust Corp now owns 755,915 shares of the conglomerate’s stock valued at $108,005,000 after buying an additional 188,794 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Down 0.2 %

Shares of NYSE ITT opened at $143.18 on Friday. The stock has a fifty day moving average price of $132.10 and a 200 day moving average price of $142.47. The company has a market cap of $11.27 billion, a P/E ratio of 22.73, 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 current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

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

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a $0.351 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.98%. ITT’s dividend payout ratio (DPR) is presently 22.26%.

Analyst Upgrades and Downgrades

ITT has been the topic of several research analyst reports. Citigroup decreased 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. KeyCorp lifted their price target on shares of ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus lifted their target price on ITT from $148.00 to $161.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, UBS Group upped their price target on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and a consensus price target of $161.86.

ITT 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.