Ground Swell Capital LLC Buys New Stake in ITT Inc. $ITT

Key Points

• Ground Swell Capital LLC has acquired a new position in ITT Inc., purchasing 1,588 shares valued at approximately $249,000 during the second quarter.
• CEO Luca Savi sold 36,385 shares of the company at an average price of $164.76, reflecting a 10.90% decrease in his ownership.
• Multiple analysts have raised ITT's price targets, with Bank of America now suggesting a target of $210.00 and an overall average target of $191.00 among analysts.

Ground Swell Capital LLC purchased a new position in ITT Inc. (NYSE:ITT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,588 shares of the conglomerate's stock, valued at approximately $249,000.

Other large investors have also made changes to their positions in the company. AdvisorNet Financial Inc boosted its stake in shares of ITT by 26.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock worth $76,000 after purchasing an additional 101 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in shares of ITT by 2,777.8% in the second quarter. Cullen Frost Bankers Inc. now owns 518 shares of the conglomerate's stock valued at $81,000 after purchasing an additional 500 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of ITT by 341.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate's stock valued at $118,000 after acquiring an additional 706 shares during the last quarter. Quarry LP raised its stake in ITT by 273.4% during the first quarter. Quarry LP now owns 926 shares of the conglomerate's stock worth $120,000 after purchasing an additional 678 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in ITT by 178.2% in the first quarter. Brooklyn Investment Group now owns 982 shares of the conglomerate's stock valued at $127,000 after acquiring an additional 629 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Insider Buying and Selling

In related news, CEO Luca Savi sold 36,385 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 297,536 shares in the company, valued at approximately $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.47% of the company's stock.

ITT Trading Up 1.9%

NYSE ITT opened at $175.47 on Friday. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 2.12 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 12 month low of $105.64 and a 12 month high of $185.57. The company's fifty day moving average price is $174.29 and its two-hundred day moving average price is $158.18.

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, topping the consensus estimate of $1.62 by $0.02. The firm had revenue of $972.40 million for the quarter, compared to analysts' expectations of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the business posted $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, research analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have weighed in on ITT shares. KeyCorp lifted their price target on shares of ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Stifel Nicolaus upped their price target on shares of ITT from $202.00 to $203.00 and gave the stock a "buy" rating in a research report on Monday. UBS Group raised their price objective on ITT from $168.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Citigroup restated a "buy" rating on shares of ITT in a report on Thursday, October 9th. Finally, Bank of America lifted 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. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $191.00.

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.

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