American International Group Inc. Sells 2,222 Shares of ITT Inc. (NYSE:ITT)

American International Group Inc. reduced its stake in shares of ITT Inc. (NYSE:ITT) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,681 shares of the conglomerate’s stock after selling 2,222 shares during the quarter. American International Group Inc.’s holdings in ITT were worth $14,784,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ITT. Raymond James Trust N.A. bought a new stake in shares of ITT during the fourth quarter valued at approximately $221,000. Raymond James & Associates lifted its holdings in ITT by 17.0% in the fourth quarter. Raymond James & Associates now owns 74,618 shares of the conglomerate’s stock valued at $8,903,000 after buying an additional 10,853 shares during the period. Pacer Advisors Inc. lifted its holdings in ITT by 53.3% in the fourth quarter. Pacer Advisors Inc. now owns 18,945 shares of the conglomerate’s stock valued at $2,261,000 after buying an additional 6,587 shares during the period. Simon Quick Advisors LLC acquired a new position in ITT in the fourth quarter valued at approximately $212,000. Finally, Sendero Wealth Management LLC lifted its holdings in ITT by 10.7% in the fourth quarter. Sendero Wealth Management LLC now owns 3,871 shares of the conglomerate’s stock valued at $462,000 after buying an additional 375 shares during the period. 91.59% of the stock is owned by institutional investors.

ITT Trading Up 3.4 %

ITT traded up $4.68 during mid-day trading on Thursday, hitting $141.51. The stock had a trading volume of 185,821 shares, compared to its average volume of 383,666. The stock’s fifty day simple moving average is $132.26 and its 200-day simple moving average is $128.83. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. ITT Inc. has a 1-year low of $91.94 and a 1-year high of $144.03. The firm has a market capitalization of $11.65 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) 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 company had revenue of $910.60 million during the quarter, compared to the consensus estimate of $883.21 million. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, research analysts forecast that ITT Inc. will post 5.85 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given 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 was Monday, June 3rd. ITT’s dividend payout ratio is 25.10%.

Wall Street Analysts Forecast Growth

ITT has been the topic of several analyst reports. UBS Group increased their price objective on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Citigroup increased their price objective on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a report on Monday, April 8th. Stifel Nicolaus increased their price objective on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, July 18th. KeyCorp increased their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, TD Cowen increased their target price on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average 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.