ITT Inc. $ITT Stock Holdings Increased by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC has significantly increased its holdings in ITT Inc. by 221.8%, now owning approximately 0.19% of the company valued at about $19.1 million.
• ITT reported earnings of $1.64 per share for the last quarter, surpassing analysts' expectations, and set its FY 2025 guidance at 6.350-6.550 EPS.
• The company recently announced a quarterly dividend of $0.351 per share, representing an annual yield of 0.8%, to be paid to shareholders of record.

MetLife Investment Management LLC grew its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 221.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 147,895 shares of the conglomerate's stock after purchasing an additional 101,937 shares during the period. MetLife Investment Management LLC owned 0.19% of ITT worth $19,102,000 as of its most recent SEC filing.

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

ITT Trading Down 1.5%

ITT stock traded down $2.53 during mid-day trading on Friday, reaching $170.10. 244,844 shares of the stock traded hands, compared to its average volume of 338,713. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $174.73. The company has a market cap of $13.27 billion, a P/E ratio of 26.75, a P/E/G ratio of 2.10 and a beta of 1.38. The stock's fifty day moving average is $162.66 and its 200-day moving average is $147.71.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The company had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. During the same period in the prior year, the firm earned $1.49 earnings per share. The business's quarterly revenue 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, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The company 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 dividend payout ratio is currently 22.01%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup reaffirmed a "buy" rating and issued a $186.00 price objective (up previously from $159.00) on shares of ITT in a report on Monday, July 14th. Bank of America raised their price objective 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 raised their price objective on shares of ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group raised their price objective 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. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $179.22.

Insider Buying and Selling

In other ITT news, CEO Luca Savi sold 36,385 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $49,022,031.36. This represents a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.47% of the company's stock.

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.