Jump Financial LLC Boosts Position in ITT Inc. $ITT

Key Points

• Jump Financial LLC increased its stake in ITT Inc. by 145.8% during the 1st quarter, now owning 17,152 shares valued at approximately $2.2 million.
• The company reported a 7.3% revenue increase year-over-year for the last quarter, with earnings per share of $1.64 surpassing analysts' expectations.
• Several firms have issued buy ratings for ITT, with the average analyst price target set at $179.22, indicating a positive outlook for the company's stock.

Jump Financial LLC lifted its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 145.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,152 shares of the conglomerate's stock after acquiring an additional 10,173 shares during the period. Jump Financial LLC's holdings in ITT were worth $2,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Quarry LP raised its holdings in shares of ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after acquiring an additional 125 shares during the period. Kapitalo Investimentos Ltda purchased a new position in shares of ITT during the 4th quarter worth $59,000. Versant Capital Management Inc raised its holdings in shares of ITT by 3,513.3% during the 1st quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock worth $70,000 after acquiring an additional 527 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of ITT by 72.7% during the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock worth $103,000 after acquiring an additional 331 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of ITT by 13.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock worth $107,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Insider Activity at ITT

In other news, CEO Luca Savi sold 36,385 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. DA Davidson set a $190.00 price objective on shares of ITT and gave the company a "buy" rating in a report on Monday, August 4th. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Citigroup restated a "buy" rating and issued a $186.00 price objective (up from $159.00) on shares of ITT in a report on Monday, July 14th. Bank of America boosted their price objective on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Stifel Nicolaus boosted their price objective on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a report on Friday, August 1st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $179.22.

ITT Stock Up 0.9%

Shares of NYSE:ITT opened at $173.80 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99. The firm has a market capitalization of $13.56 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The firm's 50-day moving average is $161.83 and its two-hundred day moving average is $147.35. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $174.20.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. The company had revenue of $972.40 million for 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 business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be given 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 dividend yield of 0.8%. ITT's payout ratio is currently 22.01%.

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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