Simon Quick Advisors LLC Has $897,000 Stock Position in ITT Inc. (NYSE:ITT)

Simon Quick Advisors LLC boosted its position in ITT Inc. (NYSE:ITT) by 21.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,276 shares of the conglomerate’s stock after buying an additional 1,093 shares during the quarter. Simon Quick Advisors LLC’s holdings in ITT were worth $897,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Algert Global LLC acquired a new stake in shares of ITT in the second quarter valued at about $1,158,000. Eagle Asset Management Inc. acquired a new stake in ITT in the 3rd quarter valued at approximately $67,503,000. AQR Capital Management LLC increased its position in ITT by 115.6% in the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after buying an additional 131,708 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of ITT by 46.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock worth $14,263,000 after buying an additional 30,320 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of ITT by 16,832.5% in the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock valued at $2,101,000 after acquiring an additional 13,971 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ITT shares. TD Cowen boosted their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Citigroup decreased their target price on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus lifted their price objective on ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.25.

ITT Price Performance

ITT stock opened at $153.31 on Thursday. The business has a 50 day simple moving average of $149.38 and a 200 day simple moving average of $143.74. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The company has a market capitalization of $12.50 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.81 and a beta of 1.41. ITT Inc. has a one year low of $118.58 and a one year high of $161.13.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. During the same period last year, the business earned $1.37 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, November 29th. ITT’s payout ratio is 21.84%.

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.