ITT Inc. (NYSE:ITT) Shares Sold by American International Group Inc.

American International Group Inc. reduced its stake in ITT Inc. (NYSE:ITT) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,681 shares of the conglomerate’s stock after selling 2,222 shares during the period. American International Group Inc. owned 0.13% of ITT worth $14,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC boosted its stake in ITT by 788.5% in the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 205 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of ITT by 101.0% during the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after buying an additional 204 shares during the last quarter. Tradewinds Capital Management LLC bought a new stake in shares of ITT during the first quarter valued at approximately $68,000. YHB Investment Advisors Inc. bought a new stake in shares of ITT during the first quarter valued at approximately $76,000. Finally, Bfsg LLC bought a new stake in shares of ITT during the fourth quarter valued at approximately $73,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Trading Up 3.4 %

NYSE ITT traded up $4.68 on Thursday, hitting $141.51. 185,821 shares of the stock were exchanged, compared to its average volume of 383,666. ITT Inc. has a 52-week low of $91.94 and a 52-week high of $144.03. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The company has a market capitalization of $11.65 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.84 and a beta of 1.41. The company’s 50-day moving average price is $132.26 and its two-hundred day moving average price is $128.83.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The firm had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $883.21 million. During the same period in the previous year, the company posted $1.17 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts predict that ITT Inc. will post 5.85 EPS for the current year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Monday, June 3rd. ITT’s dividend payout ratio is currently 25.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. KeyCorp lifted their price target on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Stifel Nicolaus lifted their price target on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, July 18th. TD Cowen boosted their target price on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. UBS Group boosted their target price on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Citigroup boosted their target price on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $144.88.

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.