AEGON ASSET MANAGEMENT UK Plc Makes New Investment in ITT Inc. $ITT

Key Points

• AEGON ASSET MANAGEMENT UK Plc has made a significant investment in ITT Inc., acquiring 139,611 shares valued at approximately $21.89 million, representing about 0.18% of the company's stock.
• Several institutional investors have increased their stakes in ITT recently, with notable boosts such as Farther Finance Advisors LLC increasing its holdings by 72.7% and Geneos Wealth Management Inc. by 341.1%.
• Analysts have raised their target prices for ITT, with Bank of America setting it at $210 and TD Cowen at $190, both maintaining a "buy" rating, indicating strong growth expectations for the company.

AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 139,611 shares of the conglomerate's stock, valued at approximately $21,894,000. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.18% of ITT as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ITT. AdvisorNet Financial Inc boosted its holdings in shares of ITT by 26.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock worth $76,000 after buying an additional 101 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of ITT by 72.7% during the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock worth $103,000 after buying an additional 331 shares in the last quarter. CX Institutional acquired a new position in shares of ITT during the first quarter worth approximately $107,000. Geneos Wealth Management Inc. raised its position in shares of ITT by 341.1% during the first quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate's stock worth $118,000 after purchasing an additional 706 shares during the period. Finally, Quarry LP raised its position in shares of ITT by 273.4% during the first quarter. Quarry LP now owns 926 shares of the conglomerate's stock worth $120,000 after purchasing an additional 678 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Luca Savi sold 36,385 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was 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 $49,022,031.36. This trade represents a 10.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. TD Cowen upped their target price on ITT from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Cowen reaffirmed a "buy" rating on shares of ITT in a research report on Thursday, October 2nd. Bank of America upped their target price on ITT from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. DA Davidson set a $190.00 target price on ITT and gave the stock a "buy" rating in a research report on Monday, August 4th. Finally, Citigroup reaffirmed a "buy" rating on shares of ITT in a research report on Thursday, October 9th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $190.89.

ITT Price Performance

Shares of NYSE:ITT opened at $172.15 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. The stock's fifty day simple moving average is $173.46 and its two-hundred day simple moving average is $156.01. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $185.57. The stock has a market cap of $13.43 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.11 and a beta of 1.38.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) 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 firm had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. During the same period last year, the firm posted $1.49 EPS. The business's revenue was up 7.3% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

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

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.

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