Magnetar Financial LLC Purchases Shares of 19,934 ITT Inc. (NYSE:ITT)

Magnetar Financial LLC acquired a new position in shares of ITT Inc. (NYSE:ITT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,934 shares of the conglomerate’s stock, valued at approximately $2,848,000.

Other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new position in ITT in the 4th quarter valued at $26,000. Resources Management Corp CT ADV bought a new position in shares of ITT in the third quarter valued at about $30,000. ORG Wealth Partners LLC acquired a new position in ITT during the 4th quarter worth about $30,000. Whipplewood Advisors LLC bought a new stake in ITT during the 4th quarter worth about $34,000. Finally, Private Trust Co. NA increased its position in ITT by 232.2% in the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after acquiring an additional 209 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $134.93 on Friday. The stock has a market cap of $10.98 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. ITT Inc. has a one year low of $121.01 and a one year high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The stock has a 50-day moving average of $143.70 and a 200-day moving average of $145.78.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a $0.351 dividend. The ex-dividend date is Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.04%. ITT’s payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ITT shares. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Citigroup decreased their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. KeyCorp boosted their target price on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Wolfe Research assumed coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Finally, Stifel Nicolaus cut their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.38.

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.