ITT Inc. $ITT Shares Bought by Findlay Park Partners LLP

Key Points

• Findlay Park Partners LLP increased its stake in ITT Inc. by 94.7%, acquiring an additional 387,000 shares, bringing its total ownership to approximately 1.01% of the company, valued at $102.76 million.
• Numerous institutional investors have also boosted their holdings in ITT, with AlphaQuest LLC increasing its position by 284.2% during the first quarter.
• Analysts have a consensus rating of 'Moderate Buy' for ITT, with an average price target set at $179.22, reflecting positive sentiment towards the company's performance.

Findlay Park Partners LLP boosted its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 94.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 795,600 shares of the conglomerate's stock after purchasing an additional 387,000 shares during the quarter. Findlay Park Partners LLP owned approximately 1.01% of ITT worth $102,760,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ITT. Quarry LP boosted its position in ITT by 101.6% during the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after purchasing an additional 125 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in ITT during the fourth quarter worth $59,000. Versant Capital Management Inc raised its holdings in shares of ITT by 3,513.3% in the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock worth $70,000 after acquiring an additional 527 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of ITT by 72.7% in the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock worth $103,000 after acquiring an additional 331 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of ITT by 13.1% in 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 last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ITT has been the subject of a number of analyst reports. Bank of America boosted their price target on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. KeyCorp boosted their price target on ITT from $180.00 to $192.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. DA Davidson set a $190.00 price target on ITT and gave the stock a "buy" rating in a report on Monday, August 4th. Stifel Nicolaus boosted their price target on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Citigroup reissued a "buy" rating and issued a $186.00 price target (up from $159.00) on shares of ITT in a report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $179.22.

ITT Trading Down 1.5%

ITT stock traded down $2.53 during trading on Friday, hitting $170.10. The company's stock had a trading volume of 244,844 shares, compared to its average volume of 338,713. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 2.10 and a beta of 1.38. The stock's fifty day moving average is $162.66 and its 200 day moving average is $147.71. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $174.73. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, beating the consensus estimate of $1.62 by $0.02. The firm had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, equities research analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

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

Insider Buying and Selling

In other ITT news, CEO Luca Savi sold 36,385 shares of the company'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 sale, the chief executive officer directly owned 297,536 shares in the company, valued at $49,022,031.36. This represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.