Jacobs Levy Equity Management Inc. Purchases Shares of 12,974 ITT Inc. $ITT

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 shares of ITT Inc. (NYSE:ITT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,974 shares of the conglomerate's stock, valued at approximately $1,676,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ITT. Jump Financial LLC raised its holdings in shares of ITT by 145.8% during the first quarter. Jump Financial LLC now owns 17,152 shares of the conglomerate's stock valued at $2,215,000 after acquiring an additional 10,173 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of ITT during the first quarter valued at approximately $609,000. XTX Topco Ltd acquired a new stake in shares of ITT during the first quarter valued at approximately $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 valued at $67,449,000 after acquiring an additional 4,905 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of ITT during the first quarter valued at approximately $273,000. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Up 1.1%

ITT stock traded up $1.98 during trading hours on Tuesday, hitting $182.05. The company's stock had a trading volume of 473,974 shares, compared to its average volume of 310,207. 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 company has a market capitalization of $14.20 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 2.22 and a beta of 1.39. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $182.51. The stock has a 50 day moving average price of $166.51 and a two-hundred day moving average price of $150.13.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping the consensus estimate of $1.62 by $0.02. The company had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. The company'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 firm posted $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, equities research analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup restated a "buy" rating and set a $186.00 price target (up previously from $159.00) on shares of ITT in a report on Monday, July 14th. KeyCorp upped their price objective on shares of ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday. Bank of America upped their price objective on shares of ITT from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday. DA Davidson set a $190.00 price objective on shares of ITT and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, Stifel Nicolaus upped their price objective on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Nine 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, ITT currently has an average rating of "Moderate Buy" and an average target price of $188.11.

Insider Activity

In related news, CEO Luca Savi sold 36,385 shares of the company's stock in a transaction on 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company's stock.

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.