Voleon Capital Management LP Buys New Shares in ITT Inc. $ITT

Key Points

• Voleon Capital Management LP acquired 4,890 shares of ITT Inc., valued at approximately $632,000, during the first quarter.
• Insider trading revealed that CEO Luca Savi sold 36,385 shares for nearly $6 million, reducing his ownership by 10.90%.
• Wall Street analysts have given ITT Inc. an average rating of "Moderate Buy" with an average target price of $182.78, with several firms raising their target prices recently.

Voleon Capital Management LP acquired a new position in ITT Inc. (NYSE:ITT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,890 shares of the conglomerate's stock, valued at approximately $632,000.

Several other large investors also recently made changes to their positions in the business. Nuveen LLC bought a new position in shares of ITT in the 1st quarter worth about $156,406,000. T. Rowe Price Investment Management Inc. boosted its stake in ITT by 97.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock valued at $237,125,000 after acquiring an additional 904,654 shares during the period. Findlay Park Partners LLP increased its position in ITT by 94.7% in the first quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate's stock worth $102,760,000 after buying an additional 387,000 shares during the period. Select Equity Group L.P. increased its position in ITT by 7.7% in the fourth quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock worth $652,237,000 after buying an additional 326,947 shares during the period. Finally, GAMMA Investing LLC increased its position in ITT by 13,886.0% in the first quarter. GAMMA Investing LLC now owns 214,406 shares of the conglomerate's stock worth $27,693,000 after buying an additional 212,873 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America increased their target price on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. UBS Group increased their target price on ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Citigroup reissued a "buy" rating and set a $186.00 price target (up from $159.00) on shares of ITT in a report on Monday, July 14th. The Goldman Sachs Group raised their price target on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, KeyCorp raised their price target on ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a report on Friday. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $183.67.

Insider Activity

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 transaction, the chief executive officer directly owned 297,536 shares of the company's stock, valued at $49,022,031.36. The trade was a 10.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by corporate insiders.

ITT Price Performance

Shares of ITT traded down $0.79 during midday trading on Friday, hitting $177.69. The company's stock had a trading volume of 517,920 shares, compared to its average volume of 289,494. ITT Inc. has a one year low of $105.64 and a one year high of $178.69. The company's fifty day simple moving average is $165.61 and its two-hundred day simple moving average is $149.53. 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 stock has a market capitalization of $13.86 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.20 and a beta of 1.39.

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

ITT Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a yield of 0.8%. ITT's payout ratio is presently 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.