Fort Washington Investment Advisors Inc. OH Reduces Stock Position in ITT Inc. $ITT

Key Points

• Fort Washington Investment Advisors Inc. decreased its stake in ITT Inc. by 9.6%, owning 131,988 shares valued at approximately $20.7 million after selling 13,944 shares.
• CEO Luca Savi sold 36,385 shares of ITT stock, decreasing his ownership by 10.90% and valuing the transaction at around $5.99 million.
• ITT Inc. recently reported earnings that surpassed estimates, with a net margin of 13.99% and setting its FY 2025 EPS guidance between 6.350-6.550.

Fort Washington Investment Advisors Inc. OH trimmed its position in ITT Inc. (NYSE:ITT - Free Report) by 9.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,988 shares of the conglomerate's stock after selling 13,944 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.17% of ITT worth $20,700,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ITT. Versant Capital Management Inc raised its position 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 valued at $70,000 after buying an additional 527 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in ITT by 26.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock valued at $76,000 after acquiring an additional 101 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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 during the period. CX Institutional purchased a new position in shares of ITT during the 1st quarter worth $107,000. Finally, UMB Bank n.a. boosted its holdings in shares of ITT by 84.5% during the first quarter. UMB Bank n.a. now owns 856 shares of the conglomerate's stock worth $111,000 after purchasing an additional 392 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ITT

In other news, CEO Luca Savi sold 36,385 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 297,536 shares in the company, valued at approximately $49,022,031.36. This represents a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

ITT Price Performance

ITT opened at $176.92 on Monday. 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 moving average price is $169.86 and its 200 day moving average price is $152.68. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $185.57. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 2.18 and a beta of 1.39.

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 the consensus estimate of $1.62 by $0.02. The company 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 revenue was up 7.3% compared to the same quarter last year. During the same period in the prior 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, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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 yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is presently 22.01%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ITT. Stifel Nicolaus upped their target price on ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Bank of America upped their price objective on shares of ITT from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Citigroup reiterated a "buy" rating and set a $186.00 price objective (up from $159.00) on shares of ITT in a report on Monday, July 14th. UBS Group boosted their target price on shares of ITT from $168.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Finally, KeyCorp upped their price target on shares of ITT from $192.00 to $200.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $188.11.

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.

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