ITT Inc. (NYSE:ITT) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC lifted its stake in ITT Inc. (NYSE:ITT) by 115.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 245,676 shares of the conglomerate’s stock after purchasing an additional 131,708 shares during the quarter. AQR Capital Management LLC’s holdings in ITT were worth $31,717,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Capital International Investors raised its holdings in shares of ITT by 0.3% in the 4th quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock valued at $1,123,533,000 after purchasing an additional 29,057 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of ITT by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after purchasing an additional 65,173 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ITT by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock valued at $123,338,000 after purchasing an additional 50,329 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ITT by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock valued at $106,961,000 after purchasing an additional 3,370 shares in the last quarter. Finally, Fiduciary Management Inc. WI raised its holdings in shares of ITT by 3.8% in the 4th quarter. Fiduciary Management Inc. WI now owns 742,571 shares of the conglomerate’s stock valued at $88,604,000 after purchasing an additional 27,210 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Performance

Shares of NYSE ITT opened at $150.00 on Monday. The company has a market cap of $12.35 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.40. ITT Inc. has a 12 month low of $91.94 and a 12 month high of $152.21. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The company has a 50-day simple moving average of $136.99 and a 200-day simple moving average of $133.52.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The company had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. During the same period in the prior year, the firm earned $1.33 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is 24.90%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. KeyCorp increased their target price on shares of ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, TD Cowen increased their target price on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT presently has a consensus rating of “Buy” and a consensus target price of $151.00.

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.