8,841 Shares in ITT Inc. $ITT Acquired by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. invested approximately $1.14 million in ITT Inc., acquiring 8,841 shares during the first quarter.
• ITT reported a 7.3% year-over-year increase in revenue, with earnings per share of $1.64 for the quarter, beating analysts' estimates.
• The company declared a quarterly dividend of $0.351, with an annualized yield of 0.8%, and a dividend payout ratio of 22.01%.

Fox Run Management L.L.C. bought a new position in ITT Inc. (NYSE:ITT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,841 shares of the conglomerate's stock, valued at approximately $1,142,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Select Equity Group L.P. increased its stake in ITT by 7.7% in the fourth quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock worth $652,237,000 after purchasing an additional 326,947 shares during the period. Nuveen LLC purchased a new stake in ITT in the first quarter worth $156,406,000. Nuveen Asset Management LLC increased its stake in ITT by 17.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,139,303 shares of the conglomerate's stock worth $162,784,000 after purchasing an additional 171,474 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in ITT by 63.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate's stock worth $133,056,000 after purchasing an additional 360,123 shares during the period. Finally, Janus Henderson Group PLC increased its stake in ITT by 1.3% in the fourth quarter. Janus Henderson Group PLC now owns 928,116 shares of the conglomerate's stock worth $132,611,000 after purchasing an additional 11,980 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on ITT shares. Citigroup reiterated a "buy" rating and issued a $186.00 target price (up previously from $159.00) on shares of ITT in a research note on Monday, July 14th. Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group increased 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. KeyCorp increased their price target on ITT from $180.00 to $192.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, 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. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, ITT has an average rating of "Moderate Buy" and an average price target of $179.22.

Insider Activity at ITT

In other news, CEO Luca Savi sold 36,385 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 297,536 shares in the company, valued at $49,022,031.36. The trade was a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by company insiders.

ITT Stock Performance

Shares of ITT stock traded up $0.9750 on Tuesday, reaching $167.4450. 105,959 shares of the stock were exchanged, compared to its average volume of 507,530. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $171.57. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.04 and a beta of 1.38. The business has a 50 day moving average price of $159.32 and a two-hundred day moving average price of $146.29. 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 (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (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 during the quarter, compared to the consensus estimate of $947.48 million. During the same period in the previous year, the company posted $1.49 earnings per share. ITT'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. Analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

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

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.