Polar Asset Management Partners Inc. Cuts Stock Holdings in ITT Inc. (NYSE:ITT)

Polar Asset Management Partners Inc. reduced its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,700 shares of the conglomerate's stock after selling 5,300 shares during the period. Polar Asset Management Partners Inc. owned about 0.13% of ITT worth $15,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in shares of ITT during the 4th quarter valued at $26,000. Whipplewood Advisors LLC bought a new stake in ITT in the 4th quarter valued at about $34,000. Quarry LP boosted its holdings in ITT by 101.6% in the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after acquiring an additional 125 shares in the last quarter. V Square Quantitative Management LLC grew its stake in 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 acquiring an additional 182 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of ITT by 291.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock valued at $59,000 after acquiring an additional 309 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Upgrades and Downgrades

ITT has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research report on Friday, May 16th. UBS Group raised their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group boosted their price objective on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Citigroup decreased their price target on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, ITT has an average rating of "Moderate Buy" and a consensus target price of $165.50.

ITT Trading Down 0.6%

Shares of NYSE:ITT traded down $0.89 during trading on Friday, reaching $150.16. 98,805 shares of the company traded hands, compared to its average volume of 455,061. 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 Inc. has a 52-week low of $105.64 and a 52-week high of $161.13. The business's fifty day moving average is $136.24 and its 200-day moving average is $142.90. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.01. The business had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. The business's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. As a group, analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Monday, June 2nd. ITT's dividend payout ratio is currently 22.26%.

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.