ITT Inc. $ITT Shares Sold by Southeast Asset Advisors LLC

Key Points

• Southeast Asset Advisors LLC reduced its holdings in ITT Inc. by 12.7% during the first quarter, now owning 28,638 shares valued at approximately $3.7 million.
• CEO Luca Savi sold 36,385 shares of ITT stock, decreasing his ownership by 10.90% and bringing his total shares to 297,536.
• ITT recently announced a quarterly dividend of $0.351 per share, representing an annualized yield of 0.8% and a dividend payout ratio of 22.01%.

Southeast Asset Advisors LLC reduced its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 12.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,638 shares of the conglomerate's stock after selling 4,154 shares during the period. Southeast Asset Advisors LLC's holdings in ITT were worth $3,699,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of ITT in the 1st quarter valued at $609,000. XTX Topco Ltd acquired a new position in ITT during the first quarter valued at $1,214,000. Charles Schwab Investment Management Inc. boosted its holdings in ITT by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 522,212 shares of the conglomerate's stock valued at $67,449,000 after purchasing an additional 4,905 shares during the last quarter. Merit Financial Group LLC acquired a new stake in ITT during the 1st quarter worth about $273,000. Finally, Sequoia Financial Advisors LLC raised its stake in shares of ITT by 10.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock valued at $3,853,000 after buying an additional 2,765 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on ITT shares. The Goldman Sachs Group upped their target price on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Stifel Nicolaus upped their price objective on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. DA Davidson set a $190.00 price objective on shares of ITT and gave the stock a "buy" rating in a research note on Monday, August 4th. KeyCorp boosted their target price on shares of ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Bank of America raised 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. Nine equities research 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, the company has a consensus rating of "Moderate Buy" and an average target price of $179.22.

ITT Price Performance

Shares of NYSE ITT traded down $0.71 during midday trading on Thursday, hitting $172.76. The stock had a trading volume of 183,565 shares, compared to its average volume of 499,683. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $161.83 and a 200-day simple moving average of $147.35. The company has a market capitalization of $13.48 billion, a PE ratio of 27.16, a P/E/G ratio of 2.12 and a beta of 1.38. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $174.73.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results 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 company had revenue of $972.40 million for the quarter, compared to analysts' expectations of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter 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, sell-side analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be paid a $0.351 dividend. 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 dividend payout ratio (DPR) is 22.01%.

Insider Buying and Selling at ITT

In other news, CEO Luca Savi sold 36,385 shares of the company'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 value 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 $49,022,031.36. This represents a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

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.