Alyeska Investment Group L.P. Grows Stock Holdings in ITT Inc. $ITT

Key Points

• Alyeska Investment Group L.P. significantly increased its stake in ITT Inc. by 2,163.2% in the first quarter, acquiring 70,239 shares to bring its total to 73,486 shares valued at approximately $9.49 million.
• Research analysts have boosted their target prices for ITT, with estimates ranging from $170.00 to $202.00, and the stock has received numerous "buy" ratings, indicating strong market confidence.
• ITT announced a quarterly dividend of $0.351 per share, translating to an annualized yield of 0.8%, with a dividend payout ratio currently at 22.01%.

Alyeska Investment Group L.P. lifted its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 2,163.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,486 shares of the conglomerate's stock after acquiring an additional 70,239 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.09% of ITT worth $9,491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in shares of ITT in the 1st quarter worth about $156,406,000. T. Rowe Price Investment Management Inc. increased its position in shares of ITT by 97.1% during 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 buying an additional 904,654 shares during the period. Findlay Park Partners LLP lifted its holdings 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. lifted its holdings 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 boosted its position in ITT by 13,886.0% during the 1st quarter. GAMMA Investing LLC now owns 214,406 shares of the conglomerate's stock valued at $27,693,000 after acquiring an additional 212,873 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Insider Activity at ITT

In other ITT news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction on 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 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 trade represents a 10.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports 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 upped their price target on ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Stifel Nicolaus increased their price objective on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Citigroup restated a "buy" rating and set a $186.00 target price (up previously from $159.00) on shares of ITT in a report on Monday, July 14th. Finally, The Goldman Sachs Group upped their target price on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $182.78.

ITT Stock Down 0.7%

ITT stock traded down $1.16 during trading on Friday, hitting $170.74. 254,201 shares of the stock traded hands, compared to its average volume of 272,553. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 2.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $174.73. The firm's 50 day moving average is $164.07 and its two-hundred day moving average is $148.46.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $947.48 million. During the same quarter in the prior year, the firm posted $1.49 earnings per share. The business's revenue was up 7.3% on a year-over-year basis. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. 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.