ITT Inc. $ITT Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its position in ITT Inc. by 0.9%, now owning approximately 522,212 shares valued at $67.4 million, highlighting ongoing institutional investment interest.
• ITT Inc. reported $1.64 earnings per share for the latest quarter, surpassing estimates and showing a 7.3% year-over-year revenue growth, indicating strong financial performance.
• The company will pay a quarterly dividend of $0.351 per share on September 29th, representing an annualized yield of 0.8% with a modest payout ratio of 22.01%.

Charles Schwab Investment Management Inc. boosted its position in ITT Inc. (NYSE:ITT - Free Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 522,212 shares of the conglomerate's stock after purchasing an additional 4,905 shares during the period. Charles Schwab Investment Management Inc. owned about 0.66% of ITT worth $67,449,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ITT. T. Rowe Price Investment Management Inc. increased its position in ITT by 63.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate's stock worth $133,056,000 after buying an additional 360,123 shares in the last quarter. Select Equity Group L.P. increased its stake 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 acquiring an additional 326,947 shares during the last quarter. GAMMA Investing LLC lifted 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 purchasing an additional 212,873 shares during the last quarter. Freestone Grove Partners LP bought a new stake in ITT during the fourth quarter worth approximately $27,614,000. Finally, Northern Trust Corp lifted its position in ITT by 33.3% in the fourth quarter. Northern Trust Corp now owns 755,915 shares of the conglomerate's stock worth $108,005,000 after buying an additional 188,794 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. DA Davidson set a $190.00 price target on ITT and gave the stock a "buy" rating in a research note on Monday, August 4th. Citigroup reissued a "buy" rating and set a $186.00 price objective (up from $159.00) on shares of ITT in a report on Monday, July 14th. Bank of America boosted their target price on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Stifel Nicolaus increased their price objective on ITT from $197.00 to $202.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $179.22.

ITT Stock Performance

Shares of NYSE ITT traded up $1.29 during midday trading on Tuesday, reaching $167.76. 19,228 shares of the stock were exchanged, compared to its average volume of 506,996. 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 firm has a market cap of $13.09 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.04 and a beta of 1.38. The firm has a 50-day simple moving average of $159.32 and a two-hundred day simple moving average of $146.29. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $171.57.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, beating the consensus estimate of $1.62 by $0.02. The company 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 quarterly 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. As a group, analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's payout ratio is 22.01%.

Insider Transactions at ITT

In related 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 transaction of $5,994,792.60. Following the completion of the sale, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is currently owned by company insiders.

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.