Man Group plc Reduces Holdings in ITT Inc. (NYSE:ITT)

Man Group plc reduced its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 60.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,050 shares of the conglomerate's stock after selling 10,896 shares during the period. Man Group plc's holdings in ITT were worth $1,007,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC acquired a new stake in shares of ITT in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in shares of ITT in the fourth quarter valued at approximately $34,000. Quarry LP grew its position in shares of ITT by 101.6% in the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of ITT by 79.1% in the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock valued at $59,000 after purchasing an additional 182 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of ITT in the fourth quarter valued at approximately $59,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Trading Down 0.4%

Shares of ITT traded down $0.54 during mid-day trading on Thursday, reaching $150.38. The company had a trading volume of 56,476 shares, compared to its average volume of 565,610. The stock has a market cap of $11.83 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The firm has a fifty day simple moving average of $136.02 and a 200-day simple moving average of $142.93. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.01. The company had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. ITT's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business earned $1.42 EPS. On average, sell-side analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. KeyCorp increased their price target on shares of ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Citigroup decreased their target price on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus raised their target price on shares of ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group raised their target price on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $165.50.

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.