Chesapeake Capital Corp IL Invests $1.15 Million in ITT Inc. (NYSE:ITT)

Chesapeake Capital Corp IL purchased a new position in ITT Inc. (NYSE:ITT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,626 shares of the conglomerate’s stock, valued at approximately $1,149,000. ITT makes up about 0.8% of Chesapeake Capital Corp IL’s investment portfolio, making the stock its 26th biggest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC boosted its position in shares of ITT by 1.9% in the 3rd quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock worth $742,319,000 after purchasing an additional 144,394 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in ITT by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate’s stock worth $169,581,000 after acquiring an additional 5,495 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in ITT by 1.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,354,082 shares of the conglomerate’s stock worth $132,581,000 after acquiring an additional 14,857 shares during the last quarter. Norges Bank purchased a new position in ITT in the 4th quarter worth approximately $102,709,000. Finally, Westfield Capital Management Co. LP raised its holdings in ITT by 6.7% in the 4th quarter. Westfield Capital Management Co. LP now owns 642,965 shares of the conglomerate’s stock worth $76,719,000 after acquiring an additional 40,521 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Stock Performance

ITT traded up $1.04 during mid-day trading on Friday, reaching $137.57. 165,107 shares of the company traded hands, compared to its average volume of 454,256. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $11.32 billion, a P/E ratio of 26.97, a P/E/G ratio of 1.78 and a beta of 1.43. ITT Inc. has a 52-week low of $75.82 and a 52-week high of $140.20. The company’s fifty day moving average price is $132.65 and its 200-day moving average price is $123.21.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. ITT’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 EPS. On average, sell-side analysts expect that ITT Inc. will post 5.85 EPS for the current year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.319 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.28 annualized dividend and a dividend yield of 0.93%. ITT’s dividend payout ratio (DPR) is 25.10%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. DA Davidson boosted their price objective on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. UBS Group boosted their price objective on shares of ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Citigroup boosted their price objective on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Stifel Nicolaus boosted their target price on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, KeyCorp boosted their target price on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT presently has an average rating of “Buy” and a consensus price target of $138.38.

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.