SG Americas Securities LLC Sells 23,056 Shares of ITT Inc. (NYSE:ITT)

SG Americas Securities LLC lessened its holdings in shares of ITT Inc. (NYSE:ITT) by 89.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,663 shares of the conglomerate’s stock after selling 23,056 shares during the period. SG Americas Securities LLC’s holdings in ITT were worth $318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Everhart Financial Group Inc. boosted its stake in ITT by 34.0% during the fourth quarter. Everhart Financial Group Inc. now owns 5,618 shares of the conglomerate’s stock worth $670,000 after acquiring an additional 1,427 shares in the last quarter. Vest Financial LLC bought a new stake in shares of ITT in the 4th quarter worth approximately $246,000. Raymond James Trust N.A. purchased a new stake in shares of ITT in the 4th quarter worth approximately $221,000. Covea Finance bought a new position in ITT during the 4th quarter valued at approximately $7,744,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in ITT during the fourth quarter valued at $57,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Up 0.2 %

Shares of ITT stock opened at $132.91 on Tuesday. ITT Inc. has a twelve month low of $75.82 and a twelve month high of $138.29. The company’s 50 day moving average is $127.52 and its 200 day moving average is $114.70. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 1.82 and a beta of 1.43.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. ITT had a return on equity of 17.91% and a net margin of 12.50%. The firm had revenue of $829.10 million for the quarter, compared to analysts’ expectations of $814.38 million. During the same period in the prior year, the firm earned $1.29 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Sell-side analysts expect that ITT Inc. will post 5.79 EPS for the current fiscal year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a dividend of $0.319 per share. This is an increase from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, March 7th. ITT’s payout ratio is currently 25.81%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday. StockNews.com cut shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. DA Davidson boosted their price objective on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Finally, Stifel Nicolaus increased their target price on ITT from $122.00 to $131.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT has an average rating of “Buy” and a consensus target price of $127.86.

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.