TimesSquare Capital Management LLC Decreases Holdings in ITT Inc. (NYSE:ITT)

TimesSquare Capital Management LLC lowered its position in ITT Inc. (NYSE:ITT) by 41.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,625 shares of the conglomerate’s stock after selling 136,645 shares during the quarter. TimesSquare Capital Management LLC’s holdings in ITT were worth $22,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. AdvisorNet Financial Inc grew its holdings in shares of ITT by 101.0% during the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after purchasing an additional 204 shares during the last quarter. Clearstead Advisors LLC boosted its position in ITT by 81.7% during the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock valued at $54,000 after buying an additional 250 shares during the period. Bfsg LLC purchased a new stake in ITT during the fourth quarter valued at about $73,000. GAMMA Investing LLC bought a new position in shares of ITT during the fourth quarter valued at about $94,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of ITT by 3,528.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 907 shares of the conglomerate’s stock worth $108,000 after buying an additional 882 shares during the period. 91.59% of the stock is currently owned by institutional investors.

ITT Trading Up 1.3 %

Shares of ITT traded up $1.78 during mid-day trading on Wednesday, hitting $136.41. 716,674 shares of the company’s stock traded hands, compared to its average volume of 380,691. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $11.23 billion, a P/E ratio of 26.75, a PEG ratio of 1.76 and a beta of 1.43. The business’s 50-day moving average price is $129.97 and its 200-day moving average price is $119.48. ITT Inc. has a 1 year low of $75.82 and a 1 year high of $138.29.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating 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 business had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $883.21 million. During the same quarter in the previous year, the business posted $1.17 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, sell-side analysts forecast that ITT Inc. will post 5.8 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, June 3rd. ITT’s dividend payout ratio is currently 25.10%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ITT shares. UBS Group increased their target price on ITT from $135.00 to $158.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com lowered ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. KeyCorp raised their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Stifel Nicolaus upped their price target on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Citigroup increased their price target on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $138.38.

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.