TimesSquare Capital Management LLC Acquires 50,384 Shares of ITT Inc. (NYSE:ITT)

TimesSquare Capital Management LLC lifted its holdings in shares of ITT Inc. (NYSE:ITT) by 34.0% during the 4th quarter, Holdings Channel reports. The firm owned 198,550 shares of the conglomerate’s stock after purchasing an additional 50,384 shares during the period. TimesSquare Capital Management LLC’s holdings in ITT were worth $28,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in ITT. Eagle Asset Management Inc. bought a new position in shares of ITT during the third quarter worth approximately $67,503,000. Erste Asset Management GmbH bought a new position in shares of ITT during the third quarter worth approximately $7,075,000. Polar Asset Management Partners Inc. increased its stake in ITT by 68.9% in the third quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate’s stock valued at $16,596,000 after acquiring an additional 45,300 shares during the last quarter. Victory Capital Management Inc. increased its stake in ITT by 15.4% in the third quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate’s stock valued at $45,827,000 after acquiring an additional 40,860 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in ITT by 46.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock valued at $14,263,000 after acquiring an additional 30,320 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Price Performance

Shares of NYSE:ITT opened at $149.61 on Wednesday. The firm has a market cap of $12.18 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 1.92 and a beta of 1.41. The firm’s fifty day moving average is $146.68 and its 200-day moving average is $145.32. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. Sell-side analysts predict that ITT Inc. will post 6.39 earnings per share for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a $0.351 dividend. This is an increase from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, March 6th. ITT’s payout ratio is 20.32%.

Wall Street Analysts Forecast Growth

ITT has been the topic of a number of recent analyst reports. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Stifel Nicolaus decreased their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Citigroup decreased their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. UBS Group lifted their price objective on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Wolfe Research initiated coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, ITT currently has an average rating of “Moderate Buy” and an average price target of $168.38.

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.