ITT Inc. (NYSE:ITT) Stake Reduced by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. cut its holdings in ITT Inc. (NYSE:ITT) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,700 shares of the conglomerate’s stock after selling 5,300 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in ITT were worth $15,102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ITT. Invesco Ltd. increased its stake in ITT by 12.2% in the 4th quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate’s stock worth $222,947,000 after purchasing an additional 169,054 shares in the last quarter. Alliancebernstein L.P. increased its stake in ITT by 14.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate’s stock worth $195,256,000 after purchasing an additional 169,944 shares in the last quarter. Nuveen Asset Management LLC increased its stake in ITT by 17.7% in the 4th 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 in the last quarter. Norges Bank purchased a new position in ITT in the 4th quarter worth about $134,433,000. Finally, T. Rowe Price Investment Management Inc. increased its stake in ITT by 63.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate’s stock worth $133,056,000 after purchasing an additional 360,123 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Down 0.4%

Shares of ITT stock opened at $149.80 on Thursday. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.13. The firm has a market cap of $11.79 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The stock has a 50 day moving average of $132.80 and a 200-day moving average of $142.62. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. The company 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 company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 earnings per share. On average, equities analysts predict that ITT Inc. will post 6.51 EPS for the current 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 given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Monday, June 2nd. ITT’s dividend payout ratio (DPR) is 22.26%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ITT shares. Stifel Nicolaus lifted their price target on ITT from $148.00 to $161.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Citigroup dropped their price target on ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. UBS Group lifted their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. KeyCorp lifted their target price on ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, ITT currently 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.