Curi RMB Capital LLC Sells 2,615 Shares of ITT Inc. $ITT

Key Points

• Curi RMB Capital LLC reduced its stake in ITT Inc. by 7.8%, selling 2,615 shares, bringing its total holdings to 30,713 shares worth approximately $3.97 million.
• Analysts have issued positive ratings for ITT, with price targets increasing; KeyCorp raised its target to $192, and the stock holds a consensus rating of "Moderate Buy" with an average target of $182.78.
• ITT Inc. announced a quarterly dividend of $0.351 to be paid on September 29, reflecting a yield of 0.8%, with a payout ratio of 22.01%.

Curi RMB Capital LLC decreased its position in ITT Inc. (NYSE:ITT - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,713 shares of the conglomerate's stock after selling 2,615 shares during the period. Curi RMB Capital LLC's holdings in ITT were worth $3,967,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ITT. Versant Capital Management Inc raised its holdings in shares of ITT by 3,513.3% in the 1st quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock worth $70,000 after buying an additional 527 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in ITT by 72.7% during the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock valued at $103,000 after purchasing an additional 331 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in ITT by 13.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock valued at $107,000 after purchasing an additional 87 shares in the last quarter. CX Institutional acquired a new stake in ITT during the 1st quarter valued at $107,000. Finally, UMB Bank n.a. increased its holdings in ITT by 84.5% during the 1st quarter. UMB Bank n.a. now owns 856 shares of the conglomerate's stock valued at $111,000 after purchasing an additional 392 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Insider Buying and Selling

In related news, CEO Luca Savi sold 36,385 shares of ITT 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 owned 297,536 shares in the company, valued at approximately $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.47% of the company's stock.

ITT Trading Down 0.7%

ITT stock traded down $1.16 during mid-day trading on Friday, hitting $170.74. 254,201 shares of the company's stock were exchanged, compared to its average volume of 272,553. The firm has a market capitalization of $13.32 billion, a P/E ratio of 26.85, a PEG ratio of 2.11 and a beta of 1.39. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $174.73. 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 company's 50 day simple moving average is $164.07 and its 200-day simple moving average is $148.46.

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, topping the consensus estimate of $1.62 by $0.02. The business had revenue of $972.40 million for the quarter, compared to the consensus estimate of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.49 EPS. 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 year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be given a $0.351 dividend. The ex-dividend date of this dividend is 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%.

Wall Street Analysts Forecast Growth

ITT has been the topic of a number of recent research reports. DA Davidson set a $190.00 price objective on ITT and gave the company a "buy" rating in a research report on Monday, August 4th. Stifel Nicolaus increased their price objective on ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Citigroup reiterated a "buy" rating and issued a $186.00 price objective (up from $159.00) on shares of ITT in a research report on Monday, July 14th. UBS Group increased their price objective on ITT from $168.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Finally, Bank of America increased their price objective on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, ITT currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.78.

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.