Gabelli Funds LLC Raises Stock Holdings in ITT Inc. $ITT

Key Points

• Gabelli Funds LLC increased its stake in ITT Inc. by 1.3%, acquiring an additional 4,850 shares, bringing its total ownership to approximately 0.48% valued at $48.96 million.
• CEO Luca Savi sold 36,385 shares at an average price of $164.76, reducing his holding by 10.90%, with a remaining ownership valued at over $49 million.
• ITT Inc. reported strong quarterly earnings with an EPS of $1.64, beating expectations, and has set FY 2025 guidance between 6.350-6.550 EPS, indicating anticipated growth.

Gabelli Funds LLC lifted its stake in ITT Inc. (NYSE:ITT - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 379,095 shares of the conglomerate's stock after purchasing an additional 4,850 shares during the quarter. Gabelli Funds LLC owned 0.48% of ITT worth $48,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Quarry LP raised its position in ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after buying an additional 125 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in ITT in the 4th quarter worth about $59,000. Versant Capital Management Inc raised its position in ITT by 3,513.3% in the 1st quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock worth $70,000 after buying an additional 527 shares during the last quarter. Farther Finance Advisors LLC raised its position in ITT by 72.7% in the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock worth $103,000 after buying an additional 331 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in ITT by 13.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock worth $107,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ITT. Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. KeyCorp boosted their target price on ITT from $180.00 to $192.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. DA Davidson set a $190.00 target price on ITT and gave the stock a "buy" rating in a research report on Monday, August 4th. Bank of America boosted their target price on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Citigroup reaffirmed a "buy" rating and set a $186.00 price target (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $179.22.

ITT Stock Performance

Shares of NYSE:ITT traded down $2.53 during mid-day trading on Friday, reaching $170.10. 244,844 shares of the company traded hands, compared to its average volume of 338,713. The company's 50 day moving average price is $162.66 and its 200-day moving average price is $147.71. The firm has a market cap of $13.27 billion, a PE ratio of 26.75, a PEG ratio of 2.10 and a beta of 1.38. 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 Inc. has a 52 week low of $105.64 and a 52 week high of $174.73.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.The firm's revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, equities analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors 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 dividend on an annualized basis and a dividend yield of 0.8%. ITT's payout ratio is 22.01%.

Insider Activity

In related 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 transaction of $5,994,792.60. Following the completion of the transaction, the chief executive officer directly owned 297,536 shares in the company, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company's stock.

ITT Company Profile

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.