SG Americas Securities LLC Has $380,000 Stock Position in ITT Inc. (NYSE:ITT)

SG Americas Securities LLC lessened its holdings in ITT Inc. (NYSE:ITT) by 93.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,540 shares of the conglomerate’s stock after selling 35,184 shares during the quarter. SG Americas Securities LLC’s holdings in ITT were worth $380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Lynx Investment Advisory acquired a new position in ITT during the 2nd quarter worth approximately $27,000. Headlands Technologies LLC bought a new stake in shares of ITT during the second quarter worth $32,000. Brown Brothers Harriman & Co. acquired a new position in shares of ITT during the second quarter worth $36,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of ITT by 71.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after acquiring an additional 145 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of ITT by 38.7% during the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock valued at $58,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. KeyCorp increased their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. TD Cowen lifted their target price on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Stifel Nicolaus upped their price target on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT currently has an average rating of “Buy” and an average target price of $155.25.

ITT Price Performance

Shares of NYSE ITT opened at $149.28 on Friday. The company has a market capitalization of $12.29 billion, a PE ratio of 29.27, a P/E/G ratio of 2.01 and a beta of 1.40. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. ITT Inc. has a twelve month low of $91.94 and a twelve month high of $153.99. The firm has a fifty day simple moving average of $141.09 and a 200 day simple moving average of $135.29.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. The firm had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $1.33 EPS. On average, sell-side analysts forecast that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Tuesday, September 3rd. ITT’s payout ratio is 24.90%.

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.