ITT Inc. $ITT Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in shares of ITT Inc. (NYSE:ITT) by 21.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 46,349 shares of the conglomerate’s stock after selling 12,559 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ITT were worth $8,831,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Elyxium Wealth LLC purchased a new stake in shares of ITT during the 4th quarter worth about $29,000. Bayban acquired a new position in ITT during the fourth quarter worth about $31,000. Parkside Financial Bank & Trust grew its position in shares of ITT by 62.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 76 shares in the last quarter. Entrust Financial LLC purchased a new stake in ITT in the 4th quarter valued at $36,000. Finally, Triumph Capital Management acquired a new position in ITT in the 3rd quarter valued at about $37,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Trading Up 3.3%

NYSE ITT opened at $205.05 on Wednesday. The firm’s fifty day moving average is $193.21 and its two-hundred day moving average is $196.53. ITT Inc. has a one year low of $163.30 and a one year high of $225.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.53. The firm has a market cap of $18.33 billion, a PE ratio of 36.16, a P/E/G ratio of 1.87 and a beta of 1.27.

ITT (NYSE:ITT) last released its quarterly earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.21. ITT had a return on equity of 16.83% and a net margin of 10.80%.The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company posted $1.45 earnings per share. The business’s revenue was up 32.7% on a year-over-year basis. Analysts expect that ITT Inc. will post 7.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Lori B. Marino sold 7,123 shares of ITT stock in a transaction on Friday, May 8th. The shares were sold at an average price of $208.27, for a total value of $1,483,507.21. Following the transaction, the insider directly owned 8,729 shares in the company, valued at $1,817,988.83. This trade represents a 44.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mesa Graziano Cheryl De sold 200 shares of ITT stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the completion of the sale, the chief accounting officer directly owned 7,859 shares in the company, valued at $1,637,894.19. This represents a 2.48% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays increased their price target on ITT from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Stifel Nicolaus increased their price objective on ITT from $246.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 20th. KeyCorp lifted their price target on shares of ITT from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Robert W. Baird set a $246.00 price objective on ITT in a research report on Thursday, May 7th. Finally, DA Davidson raised their target price on ITT from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $234.75.

ITT Company Profile

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.