Intech Investment Management LLC Purchases 3,572 Shares of ITT Inc. $ITT

Key Points

• Intech Investment Management LLC increased its position in ITT Inc. by 25.4% during the 1st quarter, purchasing an additional 3,572 shares for a total of 17,623 shares valued at approximately $2.276 million.
• Analysts have a consensus rating of "Moderate Buy" for ITT, with numerous firms raising their price targets; UBS recently increased its target from $168 to $200.
• ITT announced a quarterly dividend of $0.351 per share, equating to an annualized yield of 0.8% and a payout ratio of 22.01%.

Intech Investment Management LLC grew its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 25.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,623 shares of the conglomerate's stock after purchasing an additional 3,572 shares during the quarter. Intech Investment Management LLC's holdings in ITT were worth $2,276,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Jump Financial LLC grew its position in shares of ITT by 145.8% during the 1st quarter. Jump Financial LLC now owns 17,152 shares of the conglomerate's stock worth $2,215,000 after buying an additional 10,173 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of ITT during the 1st quarter worth approximately $609,000. XTX Topco Ltd acquired a new stake in shares of ITT during the 1st quarter worth approximately $1,214,000. Charles Schwab Investment Management Inc. grew its position in shares of ITT by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 522,212 shares of the conglomerate's stock worth $67,449,000 after buying an additional 4,905 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of ITT during the 1st quarter worth approximately $273,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group raised their price objective on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Bank of America lifted their price target on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. 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. The Goldman Sachs Group lifted their price target on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Finally, Stifel Nicolaus lifted their price target on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, ITT has a consensus rating of "Moderate Buy" and an average price target of $183.67.

ITT Trading Up 1.3%

NYSE ITT opened at $179.80 on Tuesday. The stock has a market capitalization of $14.02 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 2.19 and a beta of 1.39. ITT Inc. has a one year low of $105.64 and a one year high of $180.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99. The business's fifty day moving average is $166.03 and its 200-day moving average is $149.91.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. The company 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 business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Equities research analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's payout ratio is presently 22.01%.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction dated 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 owned 297,536 shares of the company's stock, valued at $49,022,031.36. The trade was a 10.90% decrease in their position. 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 insiders.

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.

Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.