Algert Global LLC Sells 5,160 Shares of ITT Inc. $ITT

Key Points

• Algert Global LLC reduced its holding in ITT Inc. by 20.2%, selling 5,160 shares during Q1, leaving them with 20,341 shares worth approximately $2.63 million.
• CEO Luca Savi sold 36,385 shares on August 7th, representing a 10.90% decrease in his position, valued at nearly $5.99 million.
• ITT Inc. has a Q2 EPS of $1.64, surpassing analyst expectations, with a 52-week high of $171.57 and a current market cap of $12.91 billion.

Algert Global LLC cut its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 20.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,341 shares of the conglomerate's stock after selling 5,160 shares during the quarter. Algert Global LLC's holdings in ITT were worth $2,627,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mariner LLC increased its position in shares of ITT by 8.6% in the fourth quarter. Mariner LLC now owns 15,386 shares of the conglomerate's stock valued at $2,198,000 after acquiring an additional 1,221 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in ITT by 12.2% in the fourth quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the conglomerate's stock valued at $2,886,000 after purchasing an additional 2,200 shares in the last quarter. Forum Financial Management LP acquired a new position in shares of ITT during the 4th quarter worth approximately $203,000. MetLife Investment Management LLC raised its stake in shares of ITT by 8.8% during the 4th quarter. MetLife Investment Management LLC now owns 45,958 shares of the conglomerate's stock worth $6,566,000 after purchasing an additional 3,720 shares in the last quarter. Finally, Natixis acquired a new stake in shares of ITT in the 4th quarter valued at approximately $1,042,000. Institutional investors own 91.59% of the company's stock.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of the 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 transaction, the chief executive officer owned 297,536 shares in the company, valued at $49,022,031.36. This trade represents a 10.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by insiders.

ITT Stock Performance

NYSE ITT opened at $165.4620 on Thursday. The stock has a market cap of $12.91 billion, a PE ratio of 26.02, a P/E/G ratio of 2.06 and a beta of 1.38. 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 firm has a 50-day moving average of $159.89 and a 200-day moving average of $146.57. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $171.57.

ITT (NYSE:ITT - Get Free Report) last issued 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. ITT had a net margin of 13.99% and a return on equity of 18.08%. The firm had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. During the same period last year, the business posted $1.49 earnings per share. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, sell-side analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be issued a $0.351 dividend. 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 dividend payout ratio is currently 22.01%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ITT. The Goldman Sachs Group boosted their target price on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a report on Monday, May 19th. KeyCorp lifted 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. DA Davidson set a $190.00 price objective on shares of ITT and gave the stock a "buy" rating in a research note on Monday, August 4th. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus boosted their price target on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $179.22.

ITT Company 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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