Petrus Trust Company LTA Takes $335,000 Position in ITT Inc. $ITT

Key Points

• Petrus Trust Company LTA has acquired a new position in ITT Inc., purchasing 2,596 shares valued at approximately $335,000.
• Major institutional investors such as Versant Capital Management Inc. and UMB Bank n.a. have significantly increased their stakes in ITT, with Versant growing its position by 3,513.3%.
• Analysts have issued positive ratings for ITT, with UBS Group raising its price target from $168.00 to $200.00, and ITT currently has a consensus rating of "Moderate Buy".

Petrus Trust Company LTA acquired a new stake in ITT Inc. (NYSE:ITT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,596 shares of the conglomerate's stock, valued at approximately $335,000.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of ITT by 3,513.3% in the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock valued at $70,000 after buying an additional 527 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of ITT by 72.7% in the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock valued at $103,000 after buying an additional 331 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of ITT by 13.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock valued at $107,000 after buying an additional 87 shares in the last quarter. CX Institutional purchased a new position in ITT in the first quarter valued at $107,000. Finally, UMB Bank n.a. grew its stake in ITT by 84.5% during the 1st quarter. UMB Bank n.a. now owns 856 shares of the conglomerate's stock worth $111,000 after purchasing an additional 392 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ITT

In other news, CEO Luca Savi sold 36,385 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 297,536 shares of the company's stock, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is owned by company insiders.

ITT Stock Down 0.4%

NYSE ITT traded down $0.79 during trading on Friday, reaching $177.69. 517,920 shares of the company's stock were exchanged, compared to its average volume of 289,494. The stock has a market cap of $13.86 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 2.20 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. The company has a 50 day moving average price of $165.61 and a two-hundred day moving average price of $149.58. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $178.69.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. The company had revenue of $972.40 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, equities research analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's payout ratio is 22.01%.

Analyst Ratings Changes

Several research firms recently commented on ITT. DA Davidson set a $190.00 target price on ITT and gave the stock a "buy" rating in a research note on Monday, August 4th. Stifel Nicolaus boosted their target price on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. KeyCorp boosted their target price on ITT from $192.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday. UBS Group boosted their target price on ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Finally, Bank of America boosted their target price on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $183.67.

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.