ITT Inc. $ITT Stock Holdings Decreased by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

Key Points

• BNP Paribas Asset Management reduced its stake in ITT Inc. by 28.2%, selling 172,398 shares and holding 438,677 shares worth approximately $56.7 million at the end of the first quarter.
• Institutional investors own 91.59% of ITT's stock, with several hedge funds showing increased activity, such as Quarry LP raising its holdings by 101.6%.
• ITT's stock currently shows a consensus rating of "Moderate Buy" from analysts, with an average price target of $179.22 following recent earnings that exceeded expectations.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in ITT Inc. (NYSE:ITT - Free Report) by 28.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,677 shares of the conglomerate's stock after selling 172,398 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.56% of ITT worth $56,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ITT. Point72 Asia Singapore Pte. Ltd. grew its position in shares of ITT by 13.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock valued at $107,000 after purchasing an additional 87 shares in the last quarter. Stephens Inc. AR grew its position in ITT by 4.8% in the first quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate's stock worth $254,000 after acquiring an additional 90 shares in the last quarter. Prudent Man Advisors LLC grew its position in ITT by 2.3% in the first quarter. Prudent Man Advisors LLC now owns 4,280 shares of the conglomerate's stock worth $553,000 after acquiring an additional 98 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in ITT by 0.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,643 shares of the conglomerate's stock worth $2,150,000 after acquiring an additional 100 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in ITT by 1.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,609 shares of the conglomerate's stock worth $1,499,000 after acquiring an additional 123 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Trading Up 3.7%

Shares of NYSE ITT traded up $6.0290 during midday trading on Friday, reaching $170.9290. 381,451 shares of the stock were exchanged, compared to its average volume of 505,477. The company has a 50 day simple moving average of $160.15 and a 200 day simple moving average of $146.69. The stock has a market capitalization of $13.33 billion, a P/E ratio of 26.88, a PEG ratio of 2.04 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. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $171.70.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.02. The firm 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%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS. 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 year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be given 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 is presently 22.01%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. KeyCorp lifted their price target on ITT from $180.00 to $192.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Citigroup reaffirmed a "buy" rating and issued a $186.00 price target (up from $159.00) on shares of ITT in a report on Monday, July 14th. The Goldman Sachs Group boosted their price objective on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. Bank of America upped their price target on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, ITT presently has an average rating of "Moderate Buy" and a consensus price target of $179.22.

Insiders Place Their Bets

In other news, CEO Luca Savi sold 36,385 shares of the 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 sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.47% of the company's stock.

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.