Lbp Am Sa Makes New $5.04 Million Investment in ITT Inc. $ITT

Key Points

• Lbp Am Sa has made a new investment in ITT Inc., purchasing 32,160 shares valued at approximately $5.04 million.
• A number of institutional investors increased their stakes in ITT, with notable acquisitions by Select Equity Group and T. Rowe Price, highlighting growing confidence in the company's performance.
• Analysts have set multiple price targets for ITT, with recent increases suggesting strong buy ratings, indicating a consensus price target of $188.11 among research analysts.

Lbp Am Sa purchased a new position in ITT Inc. (NYSE:ITT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 32,160 shares of the conglomerate's stock, valued at approximately $5,044,000.

A number of other institutional investors have also recently made changes to their positions in the company. Select Equity Group L.P. grew its position in shares of ITT by 4.4% during the first quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate's stock valued at $615,525,000 after purchasing an additional 200,676 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of ITT by 97.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock valued at $237,125,000 after purchasing an additional 904,654 shares in the last quarter. Nuveen LLC purchased a new position in shares of ITT during the first quarter valued at about $156,406,000. Findlay Park Partners LLP grew its position in shares of ITT by 94.7% during the first quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate's stock valued at $102,760,000 after purchasing an additional 387,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 purchasing an additional 4,905 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

ITT has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price objective on ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research report on Friday, August 1st. UBS Group raised their price objective on ITT from $168.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Citigroup reaffirmed a "buy" rating and issued a $186.00 price target (up previously from $159.00) on shares of ITT in a report on Monday, July 14th. KeyCorp increased 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. Finally, Bank of America increased their price target on shares of ITT from $190.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $188.11.

Insider Transactions at ITT

In other ITT news, CEO Luca Savi sold 36,385 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $5,994,792.60. Following the completion of the sale, the chief executive officer owned 297,536 shares of the company's stock, valued at $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by insiders.

ITT Stock Up 1.0%

Shares of NYSE ITT opened at $180.55 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 company has a market cap of $14.08 billion, a P/E ratio of 28.39, a PEG ratio of 2.20 and a beta of 1.38. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $185.57. The firm has a 50-day simple moving average of $171.07 and a two-hundred day simple moving average of $153.34.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.02. The business 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 firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Research analysts anticipate 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 was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were paid a $0.351 dividend. 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 (DPR) is presently 22.01%.

About ITT

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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