Regents Gate Capital LLP Buys New Holdings in ITT Inc. (NYSE:ITT)

Regents Gate Capital LLP purchased a new position in ITT Inc. (NYSE:ITT) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 30,258 shares of the conglomerate’s stock, valued at approximately $4,323,000. ITT accounts for approximately 1.7% of Regents Gate Capital LLP’s holdings, making the stock its 22nd biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. M&T Bank Corp increased its stake in shares of ITT by 1.3% in the third quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after acquiring an additional 69 shares during the period. CIBC Asset Management Inc grew its position in ITT by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after purchasing an additional 87 shares during the period. Round Rock Advisors LLC raised its stake in shares of ITT by 0.4% during the 3rd quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock valued at $3,038,000 after buying an additional 90 shares during the last quarter. Tectonic Advisors LLC lifted its holdings in shares of ITT by 3.3% in the 3rd quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock valued at $437,000 after buying an additional 93 shares during the period. Finally, Savant Capital LLC boosted its stake in shares of ITT by 3.5% in the fourth quarter. Savant Capital LLC now owns 4,081 shares of the conglomerate’s stock worth $583,000 after buying an additional 137 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on ITT shares. Citigroup reduced their price target on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus decreased their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Robert W. Baird lowered their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Wolfe Research began coverage on shares of ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating for the company. Finally, TD Cowen increased their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, ITT currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Stock Down 0.2 %

ITT stock opened at $146.07 on Monday. ITT Inc. has a 52 week low of $118.58 and a 52 week high of $161.13. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $147.84 and a 200-day simple moving average of $144.90. The stock has a market capitalization of $11.91 billion, a P/E ratio of 23.19, a P/E/G ratio of 1.80 and a beta of 1.41.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Equities analysts forecast that ITT Inc. will post 6.33 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be issued a $0.351 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.96%. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio (DPR) is presently 20.32%.

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.