Dimensional Fund Advisors LP Sells 31,643 Shares of ITT Inc. $ITT

Key Points

• Dimensional Fund Advisors LP reduced its holdings in ITT Inc. by 3.7%, selling 31,643 shares and owning approximately 826,806 shares, valued at $106.78 million by the end of the reporting period.
• Multiple large institutional investors, such as Select Equity Group and T. Rowe Price, have increased their stakes in ITT, with several now owning significant shares valued in the hundreds of millions.
• ITT Inc. recently reported an EPS of $1.64, exceeding expectations, while also announcing a quarterly dividend of $0.351 per share, with a yield of 0.8%.

Dimensional Fund Advisors LP decreased its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 826,806 shares of the conglomerate's stock after selling 31,643 shares during the period. Dimensional Fund Advisors LP owned approximately 1.05% of ITT worth $106,781,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in ITT during the 1st quarter worth $1,142,000. Russell Investments Group Ltd. increased its position in ITT by 2.0% during the 1st quarter. Russell Investments Group Ltd. now owns 54,250 shares of the conglomerate's stock worth $7,007,000 after buying an additional 1,063 shares during the period. Nuveen LLC bought a new position in ITT during the 1st quarter worth $156,406,000. Virtu Financial LLC bought a new position in ITT during the 1st quarter worth $711,000. Finally, Entropy Technologies LP increased its position in ITT by 151.9% during the 1st quarter. Entropy Technologies LP now owns 21,286 shares of the conglomerate's stock worth $2,749,000 after buying an additional 12,837 shares during the period. Institutional investors own 91.59% of the company's stock.

Insider Activity at ITT

In other 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 sale, the chief executive officer directly owned 297,536 shares of the company's stock, valued at approximately $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

ITT has been the topic of a number of recent analyst reports. Bank of America raised their price target on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. DA Davidson set a $190.00 price target on ITT and gave the stock a "buy" rating in a research report on Monday, August 4th. Citigroup restated a "buy" rating and issued a $186.00 price target (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. The Goldman Sachs Group raised their price target on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Stifel Nicolaus raised their price target on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, ITT presently has a consensus rating of "Moderate Buy" and an average target price of $179.22.

ITT Price Performance

NYSE:ITT traded up $1.72 during trading hours on Wednesday, hitting $174.02. The company's stock had a trading volume of 115,963 shares, compared to its average volume of 500,526. The stock has a fifty day simple moving average of $161.37 and a 200-day simple moving average of $147.17. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $174.20. The company has a market capitalization of $13.57 billion, a P/E ratio of 27.35, a PEG ratio of 2.09 and a beta of 1.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%.The firm had revenue of $972.40 million for the quarter, compared to analyst estimates of $947.48 million. During the same period last year, the firm posted $1.49 earnings per share. The business's revenue for the quarter 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 anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is presently 22.01%.

ITT 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.