Perbak Capital Partners LLP Invests $310,000 in ITT Inc. $ITT

Key Points

• Perbak Capital Partners LLP has purchased a stake of 2,403 shares in ITT Inc., valued at approximately $310,000, as reported in their recent 13F filing with the SEC.
• Institutional investors own 91.59% of ITT's stock, indicating a strong presence of institutional ownership in the company.
• ITT Inc. announced a quarterly dividend of $0.351 per share, with an annualized yield of 0.8% and a dividend payout ratio of 22.01%.

Perbak Capital Partners LLP purchased a new position in shares of ITT Inc. (NYSE:ITT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,403 shares of the conglomerate's stock, valued at approximately $310,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Select Equity Group L.P. boosted its stake in 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. T. Rowe Price Investment Management Inc. boosted its stake in ITT by 97.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock worth $237,125,000 after purchasing an additional 904,654 shares during the period. Nuveen LLC bought a new position in ITT in the 1st quarter worth about $156,406,000. Nuveen Asset Management LLC boosted its stake in ITT by 17.7% in the 4th quarter. Nuveen Asset Management LLC now owns 1,139,303 shares of the conglomerate's stock worth $162,784,000 after purchasing an additional 171,474 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in ITT by 1.3% in the 4th quarter. Janus Henderson Group PLC now owns 928,116 shares of the conglomerate's stock worth $132,611,000 after purchasing an additional 11,980 shares during the period. Institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group raised their target price on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Bank of America raised their price target on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Stifel Nicolaus raised their price target on ITT from $197.00 to $202.00 and gave the company a "buy" rating in a report on Friday, August 1st. UBS Group raised their price target on ITT from $168.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday. Finally, DA Davidson set a $190.00 price target on ITT and gave the company a "buy" rating in a report on Monday, August 4th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $182.78.

Insider Buying and Selling at ITT

In other news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $5,994,792.60. Following the sale, the chief executive officer directly owned 297,536 shares in the company, valued at approximately $49,022,031.36. This trade represents a 10.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

ITT Price Performance

Shares of NYSE ITT traded down $1.16 during trading hours on Friday, reaching $170.74. 254,201 shares of the stock traded hands, compared to its average volume of 274,641. The company has a market capitalization of $13.32 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 2.12 and a beta of 1.39. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $174.73. The company's 50-day simple moving average is $164.07 and its two-hundred day simple moving average is $148.46.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.02. The company had revenue of $972.40 million for the quarter, compared to analysts' expectations of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.ITT's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Equities research analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is currently 22.01%.

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.