Allianz Asset Management GmbH Has $9.73 Million Holdings in ITT Inc. $ITT

Key Points

• Allianz Asset Management GmbH has increased its stake in ITT Inc. by 12.2%, owning approximately 0.08% of the company worth $9.73 million after purchasing an additional 6,769 shares.
• ITT Inc. reported $1.64 earnings per share for the last quarter, surpassing analyst expectations, and experienced a 7.3% revenue increase year-over-year.
• The company announced a $0.351 quarterly dividend, resulting in an annualized yield of 0.8% and a payout ratio of 22.01%.

Allianz Asset Management GmbH raised its stake in ITT Inc. (NYSE:ITT - Free Report) by 12.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,043 shares of the conglomerate's stock after purchasing an additional 6,769 shares during the period. Allianz Asset Management GmbH owned approximately 0.08% of ITT worth $9,730,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ITT. Nuveen LLC bought a new stake in ITT in the 1st quarter valued at $156,406,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of ITT by 97.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock worth $237,125,000 after acquiring an additional 904,654 shares during the period. Findlay Park Partners LLP lifted its holdings in shares of ITT by 94.7% during the 1st quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate's stock worth $102,760,000 after acquiring an additional 387,000 shares during the period. Select Equity Group L.P. lifted its holdings in shares of ITT by 4.4% during the 1st quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate's stock worth $615,525,000 after acquiring an additional 200,676 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of ITT during the 2nd quarter worth about $21,894,000. 91.59% of the stock is owned by institutional investors.

ITT Trading Up 1.3%

Shares of NYSE ITT opened at $174.74 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 company has a market cap of $13.63 billion, a PE ratio of 27.47, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a 50-day moving average of $174.10 and a two-hundred day moving average of $157.65. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $185.57.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates 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 revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.49 earnings per share. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were paid a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. ITT's dividend payout ratio is presently 22.01%.

Insider Buying and Selling

In other ITT news, CEO Luca Savi sold 36,385 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were 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 owned 297,536 shares of the company's stock, valued at approximately $49,022,031.36. This represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

ITT has been the subject of a number of analyst reports. Bank of America raised their price objective on shares of ITT from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Citigroup reaffirmed a "buy" rating on shares of ITT in a report on Thursday, October 9th. UBS Group boosted their price target on shares of ITT from $168.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Weiss Ratings restated a "buy (b)" rating on shares of ITT in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus boosted their price target on shares of ITT from $202.00 to $203.00 and gave the company a "buy" rating in a research report on Monday. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $191.00.

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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