ITT Inc. $ITT Shares Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in ITT Inc. by 182.4% during the 1st quarter, now holding shares worth approximately $1.05 million.
• CEO Luca Savi sold 36,385 shares of ITT, decreasing his ownership by 10.90%, which is valued at around $49 million post-sale.
• Equities analysts have raised their target prices for ITT, with a consensus target of $179.22 and a general buy rating from nine analysts.

Ieq Capital LLC grew its position in ITT Inc. (NYSE:ITT - Free Report) by 182.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,129 shares of the conglomerate's stock after acquiring an additional 5,250 shares during the quarter. Ieq Capital LLC's holdings in ITT were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ITT. Nuveen LLC bought a new stake in ITT in the 1st quarter worth approximately $156,406,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of ITT by 97.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock worth $237,125,000 after purchasing an additional 904,654 shares during the period. Findlay Park Partners LLP boosted its holdings in shares of ITT by 94.7% in the 1st quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate's stock worth $102,760,000 after purchasing an additional 387,000 shares during the period. Select Equity Group L.P. boosted its holdings in shares of ITT by 7.7% in the 4th 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. Finally, GAMMA Investing LLC boosted its holdings in shares of ITT by 13,886.0% in the 1st quarter. GAMMA Investing LLC now owns 214,406 shares of the conglomerate's stock worth $27,693,000 after purchasing an additional 212,873 shares during the period. Institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. DA Davidson set a $190.00 price objective on ITT and gave the company a "buy" rating in a report on Monday, August 4th. UBS Group boosted their price objective on ITT from $168.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday. Citigroup restated a "buy" rating and set a $186.00 price objective (up previously from $159.00) on shares of ITT in a report on Monday, July 14th. Stifel Nicolaus boosted their price objective on ITT from $197.00 to $202.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $182.78.

ITT Stock Down 0.7%

NYSE ITT traded down $1.16 on Friday, reaching $170.74. 254,201 shares of the stock traded hands, compared to its average volume of 274,641. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. The company has a fifty day moving average price of $164.07 and a 200-day moving average price of $148.46. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 2.12 and a beta of 1.39. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $174.73.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.02. The business 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%.ITT'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. As a group, research analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently declared 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. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's payout ratio is presently 22.01%.

Insider Activity at ITT

In other news, CEO Luca Savi sold 36,385 shares of the business's stock in a transaction 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 transaction, the chief executive officer directly owned 297,536 shares of the company's stock, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.