Farmers & Merchants Investments Inc. Acquires 1,850 Shares of ITT Inc. $ITT

Key Points

• Farmers & Merchants Investments Inc. increased its stake in ITT Inc. by 2.9%, owning 65,027 shares valued at approximately $10.20 million as of the latest report.
• ITT reported earnings of $1.64 per share for the last quarter, surpassing analyst expectations, while also raising its FY 2025 EPS guidance to between $6.350 and $6.550.
• The company announced a quarterly dividend of $0.351, with the ex-dividend date set for September 2nd, representing an annual yield of 0.8%.

Farmers & Merchants Investments Inc. grew its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,027 shares of the conglomerate's stock after purchasing an additional 1,850 shares during the period. Farmers & Merchants Investments Inc. owned approximately 0.08% of ITT worth $10,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITT. Select Equity Group L.P. increased its holdings in shares of ITT by 4.4% in the 1st quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate's stock worth $615,525,000 after buying an additional 200,676 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of ITT by 97.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock worth $237,125,000 after acquiring an additional 904,654 shares during the last quarter. Nuveen LLC purchased a new stake in ITT during the 1st quarter worth about $156,406,000. Findlay Park Partners LLP boosted its stake in shares of ITT by 94.7% during the first quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate's stock worth $102,760,000 after buying an additional 387,000 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ITT by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 522,212 shares of the conglomerate's stock worth $67,449,000 after buying an additional 4,905 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price 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. DA Davidson set a $190.00 target price on shares of ITT and gave the stock a "buy" rating in a research report on Monday, August 4th. KeyCorp raised their price objective on ITT from $192.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Citigroup restated a "buy" rating and issued a $186.00 price target (up from $159.00) on shares of ITT in a research note on Monday, July 14th. Finally, UBS Group lifted their target price on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, ITT has a consensus rating of "Moderate Buy" and an average target price of $188.11.

ITT Stock Up 0.3%

ITT stock traded up $0.48 during trading hours on Monday, reaching $181.50. The stock had a trading volume of 394,283 shares, compared to its average volume of 374,309. The company has a market cap of $14.16 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 2.23 and a beta of 1.39. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $185.57. The business's 50 day moving average price is $168.39 and its 200-day moving average price is $151.45. 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 posted its 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 company had revenue of $972.40 million for the quarter, compared to the consensus estimate of $947.48 million. During the same quarter in the previous year, the business earned $1.49 earnings per share. The company'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. Sell-side analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

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 paid a $0.351 dividend. 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 is currently 22.01%.

Insider Buying and Selling

In related news, CEO Luca Savi sold 36,385 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the transaction, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.47% of the company's stock.

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.