SG Americas Securities LLC Acquires 3,884 Shares of ITT Inc. (NYSE:ITT)

SG Americas Securities LLC grew its holdings in ITT Inc. (NYSE:ITT - Free Report) by 544.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,597 shares of the conglomerate's stock after buying an additional 3,884 shares during the quarter. SG Americas Securities LLC's holdings in ITT were worth $594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in shares of ITT during the fourth quarter valued at approximately $134,433,000. Raymond James Financial Inc. bought a new position in ITT in the 4th quarter worth $73,762,000. T. Rowe Price Investment Management Inc. raised its holdings in ITT by 63.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate's stock worth $133,056,000 after purchasing an additional 360,123 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of ITT by 7.7% in the 4th quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock worth $652,237,000 after purchasing an additional 326,947 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of ITT by 13,886.0% during the 1st quarter. GAMMA Investing LLC now owns 214,406 shares of the conglomerate's stock valued at $27,693,000 after purchasing an additional 212,873 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

ITT has been the subject of a number of research reports. Citigroup decreased their price target on shares of ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus increased their target price on ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. The Goldman Sachs Group raised their target price on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Bank of America raised their price objective on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $165.50.

ITT Price Performance

ITT stock traded down $0.06 on Wednesday, reaching $154.96. 351,877 shares of the company traded hands, compared to its average volume of 454,120. The firm has a fifty day simple moving average of $145.61 and a 200-day simple moving average of $142.32. The company has a market cap of $12.20 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 2.00 and a beta of 1.35. ITT Inc. has a one year low of $105.64 and a one year high of $161.13.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.01. The firm had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. ITT had a return on equity of 17.75% and a net margin of 14.19%. The company's revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $1.42 earnings per share. On average, sell-side analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a $0.351 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.91%. ITT's dividend payout ratio is presently 22.26%.

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.