Paradoxiom Capital L.P. Invests $7.47 Million in ITT Inc. (NYSE:ITT)

Paradoxiom Capital L.P. purchased a new position in ITT Inc. (NYSE:ITT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 52,294 shares of the conglomerate’s stock, valued at approximately $7,472,000. ITT comprises 3.1% of Paradoxiom Capital L.P.’s investment portfolio, making the stock its 17th biggest position. Paradoxiom Capital L.P. owned 0.06% of ITT as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Nomura Holdings Inc. purchased a new position in shares of ITT in the fourth quarter worth $1,545,000. NorthRock Partners LLC purchased a new position in shares of ITT in the fourth quarter worth $202,000. Nuveen Asset Management LLC raised its stake in shares of ITT by 17.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,139,303 shares of the conglomerate’s stock worth $162,784,000 after purchasing an additional 171,474 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of ITT in the fourth quarter worth $686,000. Finally, Interval Partners LP purchased a new position in shares of ITT in the fourth quarter worth $13,910,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

NYSE ITT opened at $150.98 on Wednesday. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $132.58 and a 200-day moving average price of $142.57. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $161.13.

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

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a $0.351 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.93%. ITT’s dividend payout ratio is currently 22.26%.

Wall Street Analyst Weigh In

Several analysts recently commented on ITT shares. Citigroup cut their price objective on ITT from $181.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 14th. UBS Group lifted their price objective on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. KeyCorp lifted their price objective on ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Stifel Nicolaus lifted their price objective on ITT from $148.00 to $161.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $161.86.

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.