Mutual of America Capital Management LLC Sells 2,756 Shares of ITT Inc. $ITT

Key Points

• Mutual of America Capital Management LLC reduced its stake in ITT Inc. by 6.6%, selling 2,756 shares, and now holds 39,138 shares valued at approximately $6.14 million.
• Reported quarterly earnings indicated ITT had earnings per share of $1.64 and revenue of $972.40 million, both surpassing analyst expectations.
• Analysts maintain a strong consensus on ITT, with most rating it as a "buy" and an average target price of $191.00.

Mutual of America Capital Management LLC decreased its position in ITT Inc. (NYSE:ITT - Free Report) by 6.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,138 shares of the conglomerate's stock after selling 2,756 shares during the quarter. Mutual of America Capital Management LLC's holdings in ITT were worth $6,138,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jump Financial LLC raised its position in shares of ITT by 145.8% in the first quarter. Jump Financial LLC now owns 17,152 shares of the conglomerate's stock valued at $2,215,000 after purchasing an additional 10,173 shares during the period. GSA Capital Partners LLP bought a new position in shares of ITT in the first quarter valued at approximately $609,000. XTX Topco Ltd bought a new position in shares of ITT in the first quarter valued at approximately $1,214,000. Charles Schwab Investment Management Inc. raised its position in shares of ITT by 0.9% in 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 during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of ITT by 10.2% in the first quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock valued at $3,853,000 after purchasing an additional 2,765 shares during the period. Institutional investors own 91.59% of the company's stock.

ITT Stock Up 1.3%

ITT opened at $174.74 on Wednesday. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $185.57. 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's fifty day moving average price is $174.10 and its two-hundred day moving average price is $157.65. The company has a market capitalization of $13.63 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.12 and a beta of 1.38.

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

ITT Dividend Announcement

The firm also recently declared 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 payout ratio is 22.01%.

Insider Transactions at ITT

In other ITT news, CEO Luca Savi sold 36,385 shares of the business's stock in a transaction that occurred 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ITT. Stifel Nicolaus raised their price objective on shares of ITT from $202.00 to $203.00 and gave the stock a "buy" rating in a research note on Monday. DA Davidson set a $190.00 price objective on shares of ITT and gave the stock a "buy" rating in a research note on Monday, August 4th. TD Cowen raised their price objective on shares of ITT from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. KeyCorp raised their price objective on shares of ITT from $192.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Finally, Cowen restated a "buy" rating on shares of ITT in a research note on Thursday, October 2nd. Eleven equities 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 company presently has an average rating of "Moderate Buy" and an average target price of $191.00.

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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