Janney Montgomery Scott LLC Sells 5,173 Shares of ITT Inc. $ITT

Key Points

• Janney Montgomery Scott LLC reduced its stake in ITT Inc. by 24.0%, selling 5,173 shares and leaving them with 16,354 shares valued at approximately $2.56 million.
• ITT's most recent earnings report showed $1.64 earnings per share, exceeding analyst expectations, and a year-over-year revenue increase of 7.3%.
• The company announced a quarterly dividend of $0.351 per share, resulting in an annualized yield of 0.8% with a low payout ratio of 22.01%.

Janney Montgomery Scott LLC cut its holdings in ITT Inc. (NYSE:ITT - Free Report) by 24.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,354 shares of the conglomerate's stock after selling 5,173 shares during the period. Janney Montgomery Scott LLC's holdings in ITT were worth $2,565,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Stephens Inc. AR boosted its holdings in ITT by 4.8% in the first quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate's stock worth $254,000 after purchasing an additional 90 shares in the last quarter. Prudent Man Advisors LLC boosted its holdings in ITT by 2.3% during the first quarter. Prudent Man Advisors LLC now owns 4,280 shares of the conglomerate's stock valued at $553,000 after acquiring an additional 98 shares during the period. UMB Bank n.a. boosted its holdings in ITT by 11.4% during the second quarter. UMB Bank n.a. now owns 954 shares of the conglomerate's stock valued at $150,000 after acquiring an additional 98 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in ITT by 0.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,643 shares of the conglomerate's stock valued at $2,150,000 after acquiring an additional 100 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in ITT by 26.2% during the second quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock valued at $76,000 after acquiring an additional 101 shares during the period. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

NYSE ITT opened at $172.58 on Friday. The firm has a market cap of $13.46 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 2.21 and a beta of 1.38. The company has a 50 day moving average of $173.10 and a 200-day moving average of $155.11. 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 1-year low of $105.64 and a 1-year high of $185.57.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. The company's revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, equities analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have issued reports on ITT. KeyCorp upped their price target on shares of ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, September 12th. Stifel Nicolaus upped their price target on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a report on Friday, August 1st. TD Cowen upped their price target on shares of ITT from $170.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. DA Davidson set a $190.00 price target on shares of ITT and gave the company a "buy" rating in a report on Monday, August 4th. Finally, Cowen reaffirmed a "buy" rating on shares of ITT in a research report on Thursday, October 2nd. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, ITT presently has an average rating of "Moderate Buy" and an average price target of $190.89.

Insider Transactions at ITT

In other ITT news, CEO Luca Savi sold 36,385 shares of the company'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. This represents a 10.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.

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