SG Americas Securities LLC Purchases 13,213 Shares of ITT Inc. (ITT)
SG Americas Securities LLC boosted its position in ITT Inc. (NYSE:ITT) by 46.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,748 shares of the conglomerate’s stock after buying an additional 13,213 shares during the period. SG Americas Securities LLC’s holdings in ITT were worth $1,677,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management increased its stake in ITT by 26.1% in the first quarter. LSV Asset Management now owns 1,027,577 shares of the conglomerate’s stock worth $42,151,000 after buying an additional 212,895 shares during the last quarter. State Treasurer State of Michigan increased its stake in ITT by 0.8% in the first quarter. State Treasurer State of Michigan now owns 35,800 shares of the conglomerate’s stock worth $1,469,000 after buying an additional 300 shares during the last quarter. Usca Ria LLC purchased a new stake in ITT during the first quarter worth $833,000. Great West Life Assurance Co. Can increased its stake in ITT by 4.0% in the first quarter. Great West Life Assurance Co. Can now owns 52,033 shares of the conglomerate’s stock worth $2,133,000 after buying an additional 2,005 shares during the last quarter. Finally, Channing Capital Management LLC purchased a new stake in ITT during the first quarter worth $6,227,000. Institutional investors own 93.06% of the company’s stock.
Shares of ITT Inc. (ITT) opened at 39.39 on Tuesday. The company has a 50-day moving average price of $40.76 and a 200 day moving average price of $40.44. The stock has a market capitalization of $3.47 billion, a PE ratio of 16.87 and a beta of 1.47. ITT Inc. has a 52 week low of $32.46 and a 52 week high of $44.00.
ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $628.65 million. ITT had a return on equity of 14.17% and a net margin of 8.64%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.67 earnings per share. Equities analysts forecast that ITT Inc. will post $2.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be paid a $0.128 dividend. This represents a $0.51 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, September 8th. ITT’s payout ratio is currently 21.70%.
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A number of research firms recently weighed in on ITT. BidaskClub downgraded ITT from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Stifel Nicolaus lifted their price target on ITT from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Zacks Investment Research cut ITT from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $46.00 to $43.00 in a research note on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $46.29.
ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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