Compound Planning Inc. Takes Position in ITT Inc. $ITT

Key Points

• Compound Planning Inc. has acquired a new position in ITT Inc., purchasing 1,802 shares valued at approximately $233,000 in the first quarter.
• In a recent earnings report, ITT posted $1.64 earnings per share, exceeding the consensus estimate of $1.62, with revenue of $972.40 million, a 7.3% increase compared to the same quarter last year.
• ITT Inc. has announced a quarterly dividend of $0.351 per share, with an annualized yield of 0.8%, to be paid on September 29th.

Compound Planning Inc. purchased a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,802 shares of the conglomerate's stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in ITT by 97.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock worth $237,125,000 after purchasing an additional 904,654 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in shares of ITT during the 1st quarter worth approximately $2,870,000. Hsbc Holdings PLC grew its position in shares of ITT by 19.7% during the 1st quarter. Hsbc Holdings PLC now owns 7,999 shares of the conglomerate's stock worth $1,029,000 after buying an additional 1,316 shares during the period. Andina Capital Management LLC bought a new stake in shares of ITT during the first quarter worth approximately $374,000. Finally, Brooklyn Investment Group lifted its holdings in ITT by 178.2% in the first quarter. Brooklyn Investment Group now owns 982 shares of the conglomerate's stock valued at $127,000 after buying an additional 629 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Down 0.4%

NYSE ITT traded down $0.72 during trading hours on Wednesday, reaching $168.43. 23,118 shares of the company's stock were exchanged, compared to its average volume of 493,965. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. The company has a market capitalization of $13.14 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 2.10 and a beta of 1.39. The company's 50-day moving average is $163.27 and its two-hundred day moving average is $148.01. ITT Inc. has a one year low of $105.64 and a one year high of $174.73.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The firm had revenue of $972.40 million for the quarter, compared to analyst estimates of $947.48 million. During the same quarter in the previous year, the firm posted $1.49 earnings per share. The business's revenue 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, analysts forecast that ITT Inc. will post 6.51 EPS 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 issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. ITT's dividend payout ratio is 22.01%.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of analyst reports. Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. KeyCorp raised 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. UBS Group upped their price objective on ITT from $168.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday. Bank of America raised 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. Finally, Citigroup restated a "buy" rating and set a $186.00 target price (up from $159.00) on shares of ITT in a research report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $182.78.

Insider Activity

In other news, CEO Luca Savi sold 36,385 shares of the business's stock in a transaction dated 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 directly owned 297,536 shares in the company, valued at $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 SEC, which is available at the SEC website. 0.47% of the stock is owned by corporate insiders.

ITT Company 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.