DRW Securities LLC Buys New Shares in ITT Inc. $ITT

Key Points

• DRW Securities LLC purchased 2,611 shares of ITT Inc. valued at approximately $337,000, highlighting growing interest from institutional investors in the company.
• ITT reported an earnings per share (EPS) of $1.64 for the last quarter, surpassing estimates, and expects fiscal year 2025 EPS in the range of 6.350-6.550.
• The company declared a quarterly dividend of $0.351, which reflects an annualized dividend yield of 0.8%, with a payout ratio of 22.01%.

DRW Securities LLC purchased a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,611 shares of the conglomerate's stock, valued at approximately $337,000.

A number of other large investors have also made changes to their positions in the company. Jump Financial LLC grew its position in ITT by 145.8% during the first quarter. Jump Financial LLC now owns 17,152 shares of the conglomerate's stock valued at $2,215,000 after purchasing an additional 10,173 shares in the last quarter. GSA Capital Partners LLP purchased a new position in ITT during the first quarter valued at approximately $609,000. XTX Topco Ltd purchased a new position in ITT during the first quarter valued at approximately $1,214,000. Charles Schwab Investment Management Inc. grew its position in ITT by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 522,212 shares of the conglomerate's stock valued at $67,449,000 after purchasing an additional 4,905 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in ITT during the first quarter valued at approximately $273,000. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Stock Down 0.7%

ITT stock traded down $1.16 during trading hours on Friday, hitting $170.74. The company's stock had a trading volume of 254,201 shares, compared to its average volume of 274,641. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $13.32 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.12 and a beta of 1.39. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $174.73. The stock has a 50 day moving average price of $164.07 and a two-hundred day moving average price of $148.46.

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

ITT Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. KeyCorp boosted their price objective on shares of ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Bank of America boosted their price objective on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Stifel Nicolaus boosted their price objective on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Citigroup reissued a "buy" rating and issued a $186.00 target price (up from $159.00) on shares of ITT in a research report on Monday, July 14th. Finally, DA Davidson set a $190.00 target price on shares of ITT and gave the stock a "buy" rating in a research report on Monday, August 4th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $182.78.

Insider Activity

In related news, CEO Luca Savi sold 36,385 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction 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. This represents a 10.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company's stock.

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.