Chesapeake Capital Corp IL Takes $1.15 Million Position in ITT Inc. (NYSE:ITT)

Chesapeake Capital Corp IL bought a new stake in ITT Inc. (NYSE:ITTFree Report) during the fourth quarter, Holdings Channel.com reports. The fund bought 9,626 shares of the conglomerate’s stock, valued at approximately $1,149,000. ITT makes up about 0.8% of Chesapeake Capital Corp IL’s portfolio, making the stock its 26th largest position.

A number of other hedge funds have also recently modified their holdings of the stock. Westfield Capital Management Co. LP grew its position in shares of ITT by 6.7% in the 4th quarter. Westfield Capital Management Co. LP now owns 642,965 shares of the conglomerate’s stock valued at $76,719,000 after buying an additional 40,521 shares during the last quarter. SageView Advisory Group LLC purchased a new position in shares of ITT in the 4th quarter valued at $247,000. Commerce Bank grew its position in shares of ITT by 5.6% in the 4th quarter. Commerce Bank now owns 11,645 shares of the conglomerate’s stock valued at $1,389,000 after buying an additional 614 shares during the last quarter. US Bancorp DE grew its position in ITT by 5.4% during the 4th quarter. US Bancorp DE now owns 14,983 shares of the conglomerate’s stock worth $1,788,000 after purchasing an additional 761 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in ITT during the 4th quarter worth $992,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Trading Up 0.8 %

ITT stock traded up $1.04 during trading on Friday, reaching $137.57. The company had a trading volume of 165,107 shares, compared to its average volume of 454,256. ITT Inc. has a 12-month low of $75.82 and a 12-month high of $140.20. The stock’s 50 day moving average price is $132.65 and its two-hundred day moving average price is $123.21. The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 1.78 and a beta of 1.43. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59.

ITT (NYSE:ITTGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The company had revenue of $910.60 million during the quarter, compared to the consensus estimate of $883.21 million. During the same period in the previous year, the firm earned $1.17 earnings per share. ITT’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts expect that ITT Inc. will post 5.85 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.319 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.28 annualized dividend and a yield of 0.93%. ITT’s dividend payout ratio is currently 25.10%.

Analyst Upgrades and Downgrades

ITT has been the topic of several research reports. Stifel Nicolaus raised their price objective on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. UBS Group raised their price objective on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. KeyCorp lifted their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. StockNews.com cut shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. Finally, DA Davidson boosted their price objective on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $138.38.

View Our Latest Stock Report on ITT

ITT Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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