Select Equity Group L.P. Buys 326,947 Shares of ITT Inc. (NYSE:ITT)

Select Equity Group L.P. boosted its holdings in ITT Inc. (NYSE:ITT) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,564,926 shares of the conglomerate’s stock after purchasing an additional 326,947 shares during the period. ITT comprises 2.6% of Select Equity Group L.P.’s holdings, making the stock its 13th largest position. Select Equity Group L.P. owned approximately 5.60% of ITT worth $652,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ITT. Rialto Wealth Management LLC purchased a new position in shares of ITT during the 4th quarter valued at $26,000. Whipplewood Advisors LLC bought a new position in shares of ITT during the 4th quarter valued at about $34,000. Quarry LP increased its position in shares of ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of ITT by 79.1% during the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock valued at $59,000 after purchasing an additional 182 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in ITT by 291.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate’s stock valued at $59,000 after acquiring an additional 309 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Up 1.9%

ITT opened at $152.99 on Friday. The stock has a market cap of $12.04 billion, a PE ratio of 24.28, a PEG ratio of 1.89 and a beta of 1.36. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $133.49 and a 200-day moving average of $142.71. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings data 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 analysts’ expectations of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. Equities research analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared 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. This represents a $1.40 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Monday, June 2nd. ITT’s dividend payout ratio is currently 22.26%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Citigroup dropped their price objective on ITT from $181.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 14th. KeyCorp increased their price objective on ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. UBS Group raised their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Stifel Nicolaus raised their target price on ITT from $161.00 to $171.00 and gave the company a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $163.29.

ITT Company 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.