Gamco Investors INC. ET AL Has $35.81 Million Stock Position in ITT Inc. $ITT

Key Points

• Gamco Investors INC. has reduced its holdings in ITT Inc. by 2.1%, owning approximately 0.35% of the company worth $35.81 million after selling 5,921 shares.
• CEO Luca Savi sold 36,385 shares of ITT stock for nearly $5.99 million, resulting in a 10.9% decrease in his ownership position.
• Analysts project a strong outlook for ITT, with a consensus rating of "Moderate Buy" and target prices from brokerages ranging up to $202.00.

Gamco Investors INC. ET AL trimmed its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,227 shares of the conglomerate's stock after selling 5,921 shares during the period. Gamco Investors INC. ET AL owned approximately 0.35% of ITT worth $35,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Select Equity Group L.P. raised its position in ITT by 7.7% during the fourth quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock valued at $652,237,000 after buying an additional 326,947 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in ITT by 97.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock valued at $237,125,000 after purchasing an additional 904,654 shares in the last quarter. Nuveen LLC purchased a new position in ITT in the first quarter valued at about $156,406,000. Nuveen Asset Management LLC grew 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 valued at $162,784,000 after purchasing an additional 171,474 shares in the last quarter. Finally, Janus Henderson Group PLC grew 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 valued at $132,611,000 after purchasing an additional 11,980 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Luca Savi sold 36,385 shares of the 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 sale, the chief executive officer owned 297,536 shares in the company, valued at $49,022,031.36. This represents a 10.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ITT. KeyCorp boosted their target price on ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Bank of America boosted their target price on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Citigroup restated 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. Stifel Nicolaus boosted 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. Finally, Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $179.22.

ITT Price Performance

Shares of NYSE:ITT opened at $169.6250 on Tuesday. The business has a 50 day moving average price of $160.91 and a 200 day moving average price of $146.99. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $171.70. The company has a market cap of $13.23 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.10 and a beta of 1.38. 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 earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%.The firm had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. During the same quarter in the prior year, the company earned $1.49 EPS. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Research analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.8%. ITT's dividend payout ratio is presently 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.

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