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

SG Americas Securities LLC reduced its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 93.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of ITT by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate's stock valued at $1,009,902,000 after purchasing an additional 65,173 shares during the period. Select Equity Group L.P. boosted its stake in shares of ITT by 11.7% during the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate's stock valued at $431,512,000 after purchasing an additional 351,206 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of ITT by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate's stock valued at $123,338,000 after purchasing an additional 50,329 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of ITT by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate's stock valued at $106,961,000 after purchasing an additional 3,370 shares during the period. Finally, Westfield Capital Management Co. LP boosted its stake in shares of ITT by 12.5% during the first quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate's stock valued at $98,434,000 after purchasing an additional 80,652 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Down 0.4 %

ITT stock traded down $0.60 during trading hours on Friday, reaching $149.28. The stock had a trading volume of 434,137 shares, compared to its average volume of 380,508. The company has a market cap of $12.29 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 2.01 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The business's 50 day moving average price is $141.09 and its 200-day moving average price is $135.29. ITT Inc. has a 52 week low of $91.94 and a 52 week high of $153.99.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.03. The business had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. ITT had a net margin of 12.47% and a return on equity of 18.30%. The firm's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 earnings per share. Sell-side analysts anticipate that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.319 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 annualized dividend and a dividend yield of 0.85%. ITT's dividend payout ratio (DPR) is currently 24.90%.

Wall Street Analyst Weigh In

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

About ITT

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.