American International Group Inc. Decreases Stock Holdings in ITT Inc. (NYSE:ITT)

American International Group Inc. cut its stake in ITT Inc. (NYSE:ITTFree Report) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,903 shares of the conglomerate’s stock after selling 4,772 shares during the period. American International Group Inc. owned approximately 0.14% of ITT worth $13,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc raised its stake in ITT by 101.0% during the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after purchasing an additional 204 shares during the period. Bfsg LLC purchased a new stake in shares of ITT during the 4th quarter valued at approximately $73,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in ITT in the fourth quarter valued at approximately $78,000. GAMMA Investing LLC purchased a new position in ITT in the fourth quarter worth approximately $94,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in ITT by 3,528.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 907 shares of the conglomerate’s stock worth $108,000 after acquiring an additional 882 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Price Performance

ITT stock opened at $128.36 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. ITT Inc. has a 52-week low of $83.14 and a 52-week high of $140.20. The firm has a market cap of $10.56 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.44. The company’s 50 day moving average is $132.27 and its two-hundred day moving average is $124.57.

ITT (NYSE:ITTGet Free Report) last released its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ITT had a return on equity of 18.21% and a net margin of 12.41%. The firm had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. During the same period last year, the business posted $1.17 earnings per share. ITT’s revenue was up 14.1% compared to the same quarter last year. On average, research analysts expect that ITT Inc. will post 5.85 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.319 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.28 annualized dividend and a yield of 0.99%. ITT’s dividend payout ratio (DPR) is 25.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. UBS Group lifted their price target on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. KeyCorp upped their price objective on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. DA Davidson lifted their target price on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, Citigroup upped their price target on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $138.38.

View Our Latest Stock Analysis on ITT

ITT Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITTFree Report).

Institutional Ownership by Quarter for ITT (NYSE:ITT)

Receive News & Ratings for ITT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT and related companies with MarketBeat.com's FREE daily email newsletter.