ITT Inc. $ITT Shares Bought by Select Equity Group L.P.

Key Points

• Select Equity Group L.P. raised its position in ITT Inc. by 4.4%, owning approximately 6.06% of the company with a total value of $615,525,000.
• ITT Inc. reported $1.64 EPS for the last quarter, surpassing expectations, and recorded a year-over-year revenue increase of 7.3%.
• The company announced a quarterly dividend of $0.351 per share, with an annualized yield of 0.8%, to be paid on September 29th.

Select Equity Group L.P. lifted its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,765,602 shares of the conglomerate's stock after buying an additional 200,676 shares during the period. ITT makes up approximately 2.6% of Select Equity Group L.P.'s investment portfolio, making the stock its 9th biggest holding. Select Equity Group L.P. owned 6.06% of ITT worth $615,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jump Financial LLC lifted its stake in shares of ITT by 145.8% during the first 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 position in ITT during the first 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. lifted its position in ITT by 0.9% during 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 period. Finally, Merit Financial Group LLC acquired a new position in ITT during the first quarter valued at $273,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ITT 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 transaction of $5,994,792.60. Following the transaction, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company's stock.

ITT Price Performance

ITT stock traded down $1.48 during trading on Friday, reaching $176.99. The company had a trading volume of 292,406 shares, compared to its average volume of 489,104. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $178.69. 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 firm's 50-day simple moving average is $165.28 and its 200 day simple moving average is $149.27. The firm has a market capitalization of $13.81 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 2.15 and a beta of 1.39.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. 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 firm earned $1.49 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, equities research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of 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 and set a $186.00 target price (up from $159.00) on shares of ITT in a research report on Monday, July 14th. DA Davidson set a $190.00 target price on shares of ITT and gave the company a "buy" rating in a research note on Monday, August 4th. The Goldman Sachs Group boosted their target price on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, KeyCorp boosted their target price on shares of ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.67.

ITT 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.