18,330 Shares in ITT Inc. (NYSE:ITT) Bought by Kennedy Capital Management LLC

Kennedy Capital Management LLC purchased a new stake in ITT Inc. (NYSE:ITT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 18,330 shares of the conglomerate’s stock, valued at approximately $2,619,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of ITT during the 4th quarter valued at about $134,433,000. Raymond James Financial Inc. purchased a new stake in ITT in the fourth quarter worth about $73,762,000. Alliancebernstein L.P. boosted its position in ITT by 14.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate’s stock valued at $195,256,000 after acquiring an additional 169,944 shares in the last quarter. Invesco Ltd. grew its holdings in shares of ITT by 12.2% during the 4th quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate’s stock worth $222,947,000 after acquiring an additional 169,054 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of ITT in the 4th quarter worth approximately $19,345,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Trading Up 2.5 %

Shares of NYSE ITT opened at $125.40 on Monday. The company has a market cap of $10.15 billion, a PE ratio of 19.90, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The firm’s 50 day moving average price is $135.84 and its 200-day moving average price is $144.37. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $161.13.

ITT (NYSE:ITT) last issued its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. On average, equities research analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.12%. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is currently 22.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Citigroup decreased their price target on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus lowered their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. KeyCorp cut their price objective on shares of ITT from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group lifted their target price on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, ITT presently has an average rating of “Moderate Buy” and an average target price of $167.43.

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.