SG Americas Securities LLC Reduces Holdings in ITT Inc. (NYSE:ITT)

SG Americas Securities LLC lowered its position in ITT Inc. (NYSE:ITT) by 71.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 713 shares of the conglomerate’s stock after selling 1,827 shares during the period. SG Americas Securities LLC’s holdings in ITT were worth $102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITT. State Street Corp raised its position in shares of ITT by 1.1% in the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after buying an additional 26,133 shares during the last quarter. Geode Capital Management LLC raised its holdings in ITT by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after acquiring an additional 8,223 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in ITT by 4.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock worth $100,100,000 after purchasing an additional 27,885 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of ITT during the 3rd quarter worth approximately $67,503,000. Finally, Loomis Sayles & Co. L P grew its position in shares of ITT by 1.1% in the third quarter. Loomis Sayles & Co. L P now owns 381,580 shares of the conglomerate’s stock valued at $57,050,000 after purchasing an additional 4,271 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ITT. UBS Group lifted their price objective on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Wolfe Research began coverage on ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. TD Cowen boosted their price target on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus cut their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, Citigroup reduced their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, ITT presently has a consensus rating of “Moderate Buy” and an average price target of $168.38.

ITT Trading Down 0.2 %

Shares of ITT stock opened at $145.38 on Thursday. The company has a 50-day moving average of $147.22 and a two-hundred day moving average of $145.00. The firm has a market cap of $11.85 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41. ITT Inc. has a 1-year low of $118.95 and a 1-year high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 1.09.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. On average, analysts predict that ITT Inc. will post 6.33 EPS for the current year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be issued a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is currently 20.32%.

ITT 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.