AQR Capital Management LLC Grows Stock Position in ITT Inc. $ITT

Key Points

• AQR Capital Management LLC increased its stake in ITT Inc. by 38.7%, acquiring an additional 104,926 shares to own a total of 376,298 shares valued at approximately $47.6 million.
• ITT Inc. reported earnings per share of $1.64 for the last quarter, exceeding analysts' expectations and a revenue increase of 7.3% year-over-year, with further guidance for FY 2025 set between $6.350 and $6.550 EPS.
• The company recently announced a quarterly dividend of $0.351 per share, translating to an annual yield of 0.8%, with a payout ratio of 22.01%.

AQR Capital Management LLC grew its position in ITT Inc. (NYSE:ITT - Free Report) by 38.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 376,298 shares of the conglomerate's stock after buying an additional 104,926 shares during the quarter. AQR Capital Management LLC owned 0.48% of ITT worth $47,636,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ITT. Advisors Asset Management Inc. lifted its stake in ITT by 29.6% in the first quarter. Advisors Asset Management Inc. now owns 3,330 shares of the conglomerate's stock worth $430,000 after acquiring an additional 760 shares during the period. Amundi increased its position in ITT by 22,565.6% during the 1st quarter. Amundi now owns 7,253 shares of the conglomerate's stock valued at $867,000 after purchasing an additional 7,221 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of ITT by 2,163.2% in the 1st quarter. Alyeska Investment Group L.P. now owns 73,486 shares of the conglomerate's stock valued at $9,491,000 after purchasing an additional 70,239 shares in the last quarter. Perbak Capital Partners LLP purchased a new stake in shares of ITT in the 1st quarter worth approximately $310,000. Finally, EP Wealth Advisors LLC boosted its stake in shares of ITT by 8.3% during the first quarter. EP Wealth Advisors LLC now owns 2,688 shares of the conglomerate's stock valued at $347,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ITT shares. Bank of America upped their target price on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. KeyCorp upped their price objective on ITT from $192.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday. UBS Group raised their price objective on ITT from $168.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Stifel Nicolaus boosted their target price on shares of ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, DA Davidson set a $190.00 price target on shares of ITT and gave the company a "buy" rating in a report on Monday, August 4th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $183.67.

Insider Activity

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

ITT Stock Down 0.4%

Shares of ITT stock traded down $0.79 during trading hours on Friday, reaching $177.69. 517,920 shares of the company's stock were exchanged, compared to its average volume of 289,494. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $178.69. 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 has a market cap of $13.86 billion, a PE ratio of 27.94, a PEG ratio of 2.20 and a beta of 1.39. The stock's fifty day moving average price is $165.61 and its two-hundred day moving average price is $149.53.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. The company had revenue of $972.40 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the business earned $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Research analysts predict 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. Stockholders of record on Tuesday, September 2nd will be paid a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is presently 22.01%.

About ITT

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.