Callan Family Office LLC Invests $233,000 in ITT Inc. $ITT

Key Points

• Callan Family Office LLC invested approximately $233,000 in ITT Inc., acquiring 1,486 shares during the second quarter.
• ITT reported earnings of $1.64 per share for the last quarter, surpassing analyst estimates, with a revenue of $972.4 million, a 7.3% increase from the previous year.
• Institutional investors hold 91.59% of ITT’s stock, and multiple analysts have recently issued "buy" ratings with price targets ranging from $190.00 to $210.00.

Callan Family Office LLC bought a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,486 shares of the conglomerate's stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ITT. Blair William & Co. IL boosted its stake in ITT by 19.9% during the 2nd quarter. Blair William & Co. IL now owns 27,383 shares of the conglomerate's stock valued at $4,295,000 after purchasing an additional 4,545 shares during the period. KLP Kapitalforvaltning AS raised its holdings in ITT by 4.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 17,900 shares of the conglomerate's stock valued at $2,807,000 after acquiring an additional 800 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in shares of ITT in the 2nd quarter worth approximately $221,000. LBP AM SA acquired a new stake in shares of ITT during the 2nd quarter worth approximately $5,044,000. Finally, Signaturefd LLC increased its position in shares of ITT by 33.7% during the second quarter. Signaturefd LLC now owns 1,992 shares of the conglomerate's stock valued at $312,000 after purchasing an additional 502 shares during the period. Institutional investors own 91.59% of the company's stock.

ITT Trading Down 1.3%

Shares of ITT stock opened at $170.72 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $185.57. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.13 and a beta of 1.38. The firm's 50-day moving average price is $173.73 and its two-hundred day moving average price is $156.41.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (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 the consensus estimate of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.The firm's revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

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

Insider Transactions at ITT

In other 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 transaction, the chief executive officer directly owned 297,536 shares in the company, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Bank of America raised their price target on ITT from $190.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Cowen reaffirmed a "buy" rating on shares of ITT in a report on Thursday, October 2nd. UBS Group increased their price objective on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. TD Cowen upped their price objective on ITT from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Finally, Stifel Nicolaus lifted their target price on ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, ITT currently has an average rating of "Moderate Buy" and an average target price of $190.89.

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.

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