Counterpoint Mutual Funds LLC purchased a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,591 shares of the conglomerate's stock, valued at approximately $406,000.
A number of other large investors have also added to or reduced their stakes in ITT. Stephens Inc. AR boosted its stake in ITT by 4.8% in the first quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate's stock valued at $254,000 after acquiring an additional 90 shares during the last quarter. Prudent Man Advisors LLC raised its holdings in shares of ITT by 2.3% in the 1st quarter. Prudent Man Advisors LLC now owns 4,280 shares of the conglomerate's stock worth $553,000 after purchasing an additional 98 shares during the period. UMB Bank n.a. lifted its stake in ITT by 11.4% in the second quarter. UMB Bank n.a. now owns 954 shares of the conglomerate's stock valued at $150,000 after purchasing an additional 98 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in ITT by 0.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,643 shares of the conglomerate's stock valued at $2,150,000 after purchasing an additional 100 shares during the period. Finally, AdvisorNet Financial Inc increased its position in ITT by 26.2% in the second quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock worth $76,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on ITT shares. Stifel Nicolaus increased their price target on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. DA Davidson set a $190.00 price objective on shares of ITT and gave the company a "buy" rating in a report on Monday, August 4th. Bank of America raised their price objective on shares of ITT from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. KeyCorp raised their price target on ITT from $192.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Finally, UBS Group boosted their price objective on ITT from $168.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, ITT presently has a consensus rating of "Moderate Buy" and an average target price of $188.11.
Get Our Latest Research Report on ITT
Insider Activity
In other news, CEO Luca Savi sold 36,385 shares of the company'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 completion of the transaction, the chief executive officer directly owned 297,536 shares in the company, valued at approximately $49,022,031.36. This represents a 10.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company's stock.
ITT Stock Down 2.1%
Shares of NYSE ITT opened at $177.58 on Wednesday. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $185.57. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 2.24 and a beta of 1.39. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average of $168.82 and a 200-day moving average of $151.63.
ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. The business had revenue of $972.40 million during the quarter, compared to analysts' expectations of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.
ITT Dividend Announcement
The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a yield of 0.8%. ITT's payout ratio is 22.01%.
ITT Profile
(
Free Report)
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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