Dynamic Technology Lab Private Ltd Acquires Shares of 11,750 ITT Inc. $ITT

Key Points

• Dynamic Technology Lab Private Ltd has acquired 11,750 shares of ITT Inc., valued at approximately $1,518,000, marking a new investment in the company during the first quarter.
• ITT Inc. reported a better-than-expected earnings per share of $1.64 for the last quarter, surpassing analysts' estimates of $1.62, and noted a revenue increase of 7.3% compared to the previous year.
• The company declared a quarterly dividend of $0.351 per share, translating to an annualized dividend yield of 0.8%, with the payment set for September 29th.

Dynamic Technology Lab Private Ltd purchased a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,750 shares of the conglomerate's stock, valued at approximately $1,518,000.

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

ITT Stock Down 0.7%

ITT traded down $1.20 during trading on Tuesday, hitting $171.87. 195,620 shares of the company's stock were exchanged, compared to its average volume of 277,028. The stock has a market cap of $13.41 billion, a P/E ratio of 27.02, a PEG ratio of 2.13 and a beta of 1.39. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $174.73. The business's 50 day moving average is $164.66 and its two-hundred day moving average is $148.84.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share 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 analysts' expectations of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, equities analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ITT. DA Davidson set a $190.00 price objective on ITT and gave the stock a "buy" rating in a research note on Monday, August 4th. KeyCorp raised their price objective on shares of ITT from $180.00 to $192.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Stifel Nicolaus upped their price target on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research note on Friday, August 1st. UBS Group lifted their price objective on ITT from $168.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Finally, The Goldman Sachs Group upped their price target on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.78.

Insider Transactions at ITT

In other ITT news, CEO Luca Savi sold 36,385 shares of the firm'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 owned 297,536 shares of the company's stock, valued at $49,022,031.36. This trade represents a 10.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

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.