Courier Capital LLC Makes New Investment in ITT Inc. $ITT

Key Points

• Courier Capital LLC has acquired a new position in ITT Inc., purchasing 1,508 shares worth approximately $236,000 during the second quarter.
• CEO Luca Savi sold 36,385 shares of ITT stock in August, reducing his ownership by 10.90% and raising over $5.9 million from the transaction.
• Recent analyst reports maintain a consensus rating of "Moderate Buy" for ITT, with a price target increase to $190.89 following raised price objectives from multiple brokerages.

Courier Capital LLC bought a new position 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 1,508 shares of the conglomerate's stock, valued at approximately $236,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITT. Stephens Inc. AR raised its holdings in shares of ITT by 4.8% during the 1st quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate's stock worth $254,000 after acquiring an additional 90 shares during the period. Prudent Man Advisors LLC raised its holdings in shares of ITT by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 4,280 shares of the conglomerate's stock worth $553,000 after acquiring an additional 98 shares during the period. UMB Bank n.a. raised its holdings in shares of ITT by 11.4% during the 2nd quarter. UMB Bank n.a. now owns 954 shares of the conglomerate's stock worth $150,000 after acquiring an additional 98 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in ITT by 0.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,643 shares of the conglomerate's stock valued at $2,150,000 after buying an additional 100 shares during the period. Finally, AdvisorNet Financial Inc raised its holdings in ITT by 26.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock valued at $76,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

Insider Activity at ITT

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 transaction of $5,994,792.60. Following the completion of the transaction, the chief executive officer directly owned 297,536 shares of the company's stock, 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ITT. Cowen restated a "buy" rating on shares of ITT in a report on Thursday, October 2nd. Bank of America boosted their price objective on shares of ITT from $190.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Weiss Ratings restated a "buy (b)" rating on shares of ITT in a report on Wednesday, October 8th. TD Cowen boosted their price objective on shares of ITT from $170.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Finally, 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. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.89.

ITT Stock Up 0.4%

Shares of NYSE:ITT opened at $172.87 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99. The firm has a market capitalization of $13.48 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The firm's 50-day moving average is $173.61 and its two-hundred day moving average is $156.13. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $185.57.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.351 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. ITT's payout ratio is currently 22.01%.

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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