Regents Gate Capital LLP Acquires New Position in ITT Inc. (NYSE:ITT)

Regents Gate Capital LLP purchased a new stake in ITT Inc. (NYSE:ITT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 30,258 shares of the conglomerate’s stock, valued at approximately $4,323,000. ITT accounts for approximately 1.7% of Regents Gate Capital LLP’s holdings, making the stock its 22nd largest position.

Several other institutional investors have also recently made changes to their positions in ITT. Capital Performance Advisors LLP purchased a new stake in ITT in the third quarter valued at $26,000. Resources Management Corp CT ADV acquired a new position in shares of ITT in the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC acquired a new stake in ITT in the 4th quarter valued at approximately $30,000. UMB Bank n.a. lifted its stake in ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 180 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of ITT by 232.2% in the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after buying an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Price Performance

ITT stock opened at $146.07 on Monday. The business has a 50 day moving average price of $147.84 and a 200 day moving average price of $144.90. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.80 and a beta of 1.41. ITT Inc. has a fifty-two week low of $118.58 and a fifty-two week high of $161.13.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that ITT Inc. will post 6.33 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This is a positive change from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.96%. ITT’s dividend payout ratio (DPR) is presently 20.32%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ITT. Wolfe Research assumed coverage on ITT in a report on Wednesday, December 11th. They set a “peer perform” rating for the company. Stifel Nicolaus reduced their price objective on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. KeyCorp boosted their target price on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. StockNews.com lowered ITT from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Robert W. Baird lowered their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $168.38.

ITT Company 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.