Capital Fund Management S.A. Takes Position in ITT Inc. $ITT

Key Points

• Capital Fund Management S.A. has acquired 22,220 shares of ITT Inc. valued at approximately $2.87 million during the first quarter.
• ITT recently announced a quarterly dividend of $0.351 per share, which will be distributed on September 29th, reflecting a 0.8% dividend yield.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for ITT, with a target price of $179.22 and several analysts raising their price targets recently.

Capital Fund Management S.A. bought a new position in shares of ITT Inc. (NYSE:ITT - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 22,220 shares of the conglomerate's stock, valued at approximately $2,870,000.

Other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC lifted its holdings in shares of ITT by 19.7% during the 1st quarter. Hsbc Holdings PLC now owns 7,999 shares of the conglomerate's stock valued at $1,029,000 after purchasing an additional 1,316 shares in the last quarter. Andina Capital Management LLC bought a new position in shares of ITT during the 1st quarter valued at about $374,000. Brooklyn Investment Group lifted its holdings in shares of ITT by 178.2% during the 1st quarter. Brooklyn Investment Group now owns 982 shares of the conglomerate's stock valued at $127,000 after purchasing an additional 629 shares in the last quarter. Corient IA LLC bought a new stake in ITT in the 1st quarter valued at approximately $517,000. Finally, Cresset Asset Management LLC lifted its stake in ITT by 4.1% in the 1st quarter. Cresset Asset Management LLC now owns 13,202 shares of the conglomerate's stock valued at $1,705,000 after acquiring an additional 525 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Luca Savi sold 36,385 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction 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 $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on ITT shares. The Goldman Sachs Group boosted their target price on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. KeyCorp boosted their target price on ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Stifel Nicolaus boosted 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. Finally, DA Davidson set a $190.00 target price on ITT and gave the company a "buy" rating in a research note on Monday, August 4th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $179.22.

ITT Price Performance

Shares of ITT traded down $2.82 during trading hours on Friday, hitting $169.81. 105,633 shares of the company were exchanged, compared to its average volume of 497,253. 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 fifty-two week low of $105.64 and a fifty-two week high of $174.73. The company has a market cap of $13.24 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 2.14 and a beta of 1.38. The firm's fifty day moving average is $162.27 and its 200 day moving average is $147.52.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%.The business had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. During the same period in the prior year, the company earned $1.49 EPS. ITT's revenue for the quarter 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, equities analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

The company 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 $0.351 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a yield of 0.8%. 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.