ITT Inc. $ITT Shares Purchased by AlphaQuest LLC

AlphaQuest LLC boosted its holdings in ITT Inc. (NYSE:ITT) by 708.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,448 shares of the conglomerate’s stock after buying an additional 20,547 shares during the period. AlphaQuest LLC’s holdings in ITT were worth $4,192,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. MQS Management LLC purchased a new stake in shares of ITT during the 2nd quarter worth about $362,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in ITT by 20.5% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 39,157 shares of the conglomerate’s stock valued at $7,000,000 after buying an additional 6,663 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in ITT by 2.7% during the second quarter. Gamco Investors INC. ET AL now owns 284,743 shares of the conglomerate’s stock worth $44,656,000 after buying an additional 7,516 shares during the period. Ground Swell Capital LLC acquired a new stake in shares of ITT in the second quarter worth $249,000. Finally, Voya Investment Management LLC raised its stake in shares of ITT by 287.0% in the 3rd quarter. Voya Investment Management LLC now owns 127,865 shares of the conglomerate’s stock valued at $22,857,000 after acquiring an additional 94,823 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Buying and Selling

In related news, CAO Mesa Graziano Cheryl De sold 238 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $183.08, for a total value of $43,573.04. Following the completion of the sale, the chief accounting officer directly owned 5,062 shares of the company’s stock, valued at $926,750.96. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.47% of the company’s stock.

ITT Trading Up 2.1%

NYSE ITT opened at $184.62 on Friday. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $197.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 1.05. The company has a market capitalization of $15.88 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 1.63 and a beta of 1.37. The company’s fifty day moving average price is $179.14 and its two-hundred day moving average price is $175.52.

ITT (NYSE:ITT) last released its earnings results on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.11. The company had revenue of $999.10 million during the quarter, compared to the consensus estimate of $973.69 million. ITT had a net margin of 12.67% and a return on equity of 18.96%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 EPS. As a group, research analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on ITT from $225.00 to $218.00 and set a “buy” rating for the company in a report on Friday, January 23rd. TD Cowen reiterated a “buy” rating on shares of ITT in a research note on Thursday, October 2nd. KeyCorp boosted their price target on ITT from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. DA Davidson restated a “buy” rating and issued a $215.00 price target on shares of ITT in a report on Monday, December 8th. Finally, Citigroup lifted their price objective on shares of ITT from $207.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $206.25.

ITT Company Profile

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.