12,974 Shares in ITT Inc. $ITT Bought by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. acquired 12,974 shares of ITT Inc. in Q1, valued at approximately $1.68 million, marking a new stake for the institutional investor.
• Institutional investors now hold 91.59% of ITT's stock, with several other hedge funds also increasing their stakes in the company during the previous quarter.
• ITT reported $1.64 EPS for its last quarter, exceeding analyst expectations, and set fiscal year 2025 guidance at 6.350-6.550 EPS.

Jacobs Levy Equity Management Inc. bought a new stake in ITT Inc. (NYSE:ITT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,974 shares of the conglomerate's stock, valued at approximately $1,676,000.

Several other institutional investors also recently modified their holdings of ITT. Baird Financial Group Inc. grew its holdings in shares of ITT by 9.3% in the fourth quarter. Baird Financial Group Inc. now owns 2,972 shares of the conglomerate's stock valued at $425,000 after acquiring an additional 252 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of ITT by 19.5% in the fourth quarter. Cetera Investment Advisers now owns 6,262 shares of the conglomerate's stock valued at $895,000 after acquiring an additional 1,024 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of ITT in the fourth quarter valued at approximately $1,242,000. Focus Partners Wealth grew its holdings in shares of ITT by 38.3% in the fourth quarter. Focus Partners Wealth now owns 4,356 shares of the conglomerate's stock valued at $622,000 after acquiring an additional 1,206 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of ITT in the fourth quarter valued at approximately $686,000. 91.59% of the stock is owned by institutional investors.

ITT Stock Performance

Shares of NYSE ITT traded down $0.79 during mid-day trading on Friday, hitting $177.69. The company had a trading volume of 517,920 shares, compared to its average volume of 289,494. The company has a market capitalization of $13.86 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 2.20 and a beta of 1.39. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $178.69. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. The stock's 50-day moving average price is $165.61 and its 200-day moving average price is $149.53.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.02. The company had revenue of $972.40 million during 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 firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, sell-side analysts forecast that ITT Inc. will post 6.51 earnings per share for the current 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. The ex-dividend date is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. ITT's payout ratio is 22.01%.

Insider Buying and Selling at ITT

In other news, CEO Luca Savi sold 36,385 shares of ITT 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 in the company, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ITT. KeyCorp lifted their price target on shares of ITT from $192.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday. DA Davidson set a $190.00 price target on shares of ITT and gave the stock a "buy" rating in a report on Monday, August 4th. UBS Group lifted their price target on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Stifel Nicolaus lifted their price target on shares of ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Bank of America lifted their price target on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $183.67.

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.