The Manufacturers Life Insurance Company Sells 12,559 Shares of ITT Inc. $ITT

The Manufacturers Life Insurance Company lowered its stake in ITT Inc. (NYSE:ITT) by 21.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,349 shares of the conglomerate’s stock after selling 12,559 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.05% of ITT worth $8,831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Amundi lifted its stake in shares of ITT by 22,565.6% during the 1st quarter. Amundi now owns 7,253 shares of the conglomerate’s stock valued at $867,000 after buying an additional 7,221 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in ITT by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate’s stock worth $54,020,000 after buying an additional 28,937 shares in the last quarter. Empowered Funds LLC purchased a new stake in ITT in the 1st quarter worth $360,000. Focus Partners Wealth raised its holdings in ITT by 80.7% during the first quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate’s stock valued at $1,017,000 after acquiring an additional 3,515 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in ITT during the second quarter valued at about $1,880,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ITT

In related news, CAO Mesa Graziano Cheryl De sold 200 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $208.41, for a total transaction of $41,682.00. Following the sale, the chief accounting officer owned 7,859 shares of the company’s stock, valued at $1,637,894.19. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lori B. Marino sold 7,123 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $208.27, for a total transaction of $1,483,507.21. Following the completion of the sale, the insider owned 8,729 shares in the company, valued at $1,817,988.83. This represents a 44.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is currently owned by company insiders.

ITT Stock Performance

Shares of ITT stock opened at $205.05 on Wednesday. The stock’s fifty day moving average is $193.21 and its two-hundred day moving average is $196.53. The company has a market capitalization of $18.33 billion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 1.87 and a beta of 1.27. The company has a quick ratio of 1.01, a current ratio of 1.53 and a debt-to-equity ratio of 0.71. ITT Inc. has a 52 week low of $163.30 and a 52 week high of $225.26.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on ITT shares. Wall Street Zen cut ITT from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Stifel Nicolaus increased their price objective on shares of ITT from $246.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 20th. Barclays lifted their price objective on shares of ITT from $210.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Citigroup boosted their target price on shares of ITT from $252.00 to $254.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, KeyCorp raised their target price on shares of ITT from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.75.

About ITT

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.