Cubist Systematic Strategies LLC Buys New Position in ITT Inc. (NYSE:ITT)

Cubist Systematic Strategies LLC bought a new stake in shares of ITT Inc. (NYSE:ITT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,693 shares of the conglomerate’s stock, valued at approximately $1,242,000.

Several other large investors also recently added to or reduced their stakes in ITT. Charles Schwab Investment Management Inc. boosted its position in shares of ITT by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock worth $73,913,000 after purchasing an additional 3,424 shares during the period. Venturi Wealth Management LLC boosted its position in shares of ITT by 880.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate’s stock worth $308,000 after acquiring an additional 1,936 shares during the last quarter. AlphaQuest LLC boosted its position in shares of ITT by 422.7% during the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate’s stock worth $601,000 after acquiring an additional 3,403 shares during the last quarter. ING Groep NV bought a new position in shares of ITT during the fourth quarter worth $1,214,000. Finally, Intech Investment Management LLC boosted its position in shares of ITT by 218.0% during the fourth quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate’s stock worth $2,008,000 after acquiring an additional 9,633 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ITT shares. KeyCorp upped their target price on shares of ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. UBS Group upped their target price on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Stifel Nicolaus upped their target price on shares of ITT from $148.00 to $161.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Finally, Citigroup decreased their price target on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $161.86.

ITT Price Performance

ITT stock opened at $150.98 on Wednesday. The company has a market cap of $11.88 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.89 and a beta of 1.36. The firm’s fifty day moving average is $132.58 and its 200 day moving average is $142.57. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $161.13.

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

ITT Dividend Announcement

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. This represents a $1.40 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Monday, June 2nd. ITT’s dividend payout ratio is currently 22.26%.

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.