AQR Capital Management LLC Reduces Stock Position in ITT Inc. (NYSE:ITT)

AQR Capital Management LLC trimmed its holdings in ITT Inc. (NYSE:ITT) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,372 shares of the conglomerate’s stock after selling 26,993 shares during the period. AQR Capital Management LLC owned approximately 0.33% of ITT worth $38,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITT. Norges Bank bought a new stake in shares of ITT during the 4th quarter valued at $134,433,000. Raymond James Financial Inc. purchased a new stake in shares of ITT in the fourth quarter worth about $73,762,000. T. Rowe Price Investment Management Inc. boosted its position in shares of ITT by 63.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate’s stock valued at $133,056,000 after acquiring an additional 360,123 shares during the period. Northern Trust Corp grew its stake in ITT by 33.3% during the fourth quarter. Northern Trust Corp now owns 755,915 shares of the conglomerate’s stock valued at $108,005,000 after acquiring an additional 188,794 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in ITT by 14.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate’s stock worth $195,256,000 after acquiring an additional 169,944 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Trading Up 2.7 %

ITT stock opened at $141.63 on Friday. ITT Inc. has a one year low of $105.64 and a one year high of $161.13. The company has a market capitalization of $11.47 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The company’s 50 day moving average price is $131.74 and its two-hundred day moving average price is $142.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.01. ITT had a net margin of 14.27% and a return on equity of 18.03%. The business had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. During the same period in the previous year, the firm posted $1.42 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a $0.351 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.99%. ITT’s dividend payout ratio (DPR) is currently 22.22%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stifel Nicolaus boosted their price target on shares of ITT from $148.00 to $161.00 and gave the company a “buy” rating in a research report on Friday. UBS Group upped their target price on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Citigroup dropped their price target on ITT from $181.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, April 14th. KeyCorp raised their target price on shares of ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday. Finally, StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.86.

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.