American Century Companies Inc. Has $4.15 Million Position in ITT Inc. $ITT

Key Points

• American Century Companies Inc. reduced its stake in ITT Inc. by 28.8%, selling 12,985 shares, and its current holdings are valued at approximately $4.15 million.
• ITT reported a 7.3% increase in revenue year-over-year for the last quarter, with earnings per share of $1.64, surpassing analysts’ estimates by $0.02.
• The company has declared a quarterly dividend of $0.351 per share, translating to an annualized dividend yield of 0.8%, with a payout ratio of 22.01%.

American Century Companies Inc. trimmed its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 28.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,164 shares of the conglomerate's stock after selling 12,985 shares during the quarter. American Century Companies Inc.'s holdings in ITT were worth $4,154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new stake in ITT during the first quarter valued at approximately $156,406,000. Select Equity Group L.P. increased its position in ITT by 7.7% in the 4th quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock worth $652,237,000 after purchasing an additional 326,947 shares during the last quarter. GAMMA Investing LLC raised its position in ITT by 13,886.0% during the first 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. Northern Trust Corp lifted its stake in shares of ITT by 33.3% in the 4th quarter. Northern Trust Corp now owns 755,915 shares of the conglomerate's stock valued at $108,005,000 after purchasing an additional 188,794 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of ITT by 17.7% in the 4th quarter. Nuveen Asset Management LLC now owns 1,139,303 shares of the conglomerate's stock valued at $162,784,000 after acquiring an additional 171,474 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ITT shares. Bank of America boosted their price objective on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group boosted their price target on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research note on Monday, May 19th. DA Davidson set a $190.00 price objective on shares of ITT and gave the stock a "buy" rating in a report on Monday, August 4th. KeyCorp lifted their price target on ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group boosted their price objective on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.78.

ITT Stock Down 0.7%

Shares of ITT stock traded down $1.16 during trading on Wednesday, reaching $168.00. The company's stock had a trading volume of 93,592 shares, compared to its average volume of 494,392. The business has a fifty day moving average price of $163.27 and a 200-day moving average price of $148.01. ITT Inc. has a one year low of $105.64 and a one year high of $174.73. 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 company has a market cap of $13.10 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 2.10 and a beta of 1.39.

ITT (NYSE:ITT - Get Free Report) last released 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. The business had revenue of $972.40 million for the quarter, compared to analyst estimates of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.ITT's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is 22.01%.

Insider Buying and Selling at ITT

In other news, CEO Luca Savi sold 36,385 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 297,536 shares of the company's stock, valued at approximately $49,022,031.36. This represents a 10.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by corporate insiders.

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.