Public Employees Retirement System of Ohio Raises Holdings in ITT Inc. $ITT

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in ITT Inc. by 11.5% during the second quarter, now owning 66,209 shares valued at approximately $10.38 million.
• Several institutional investors have also ramped up their positions in ITT, with notable increases from Wealth Enhancement Advisory Services (22.4%) and GAMMA Investing LLC (13,886.0%).
• Wall Street analysts remain optimistic, with a consensus rating of "Moderate Buy" and an average target price for ITT shares reaching $188.11.

Public Employees Retirement System of Ohio lifted its holdings in ITT Inc. (NYSE:ITT - Free Report) by 11.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,209 shares of the conglomerate's stock after buying an additional 6,848 shares during the quarter. Public Employees Retirement System of Ohio owned 0.08% of ITT worth $10,384,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of ITT by 22.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,049 shares of the conglomerate's stock valued at $1,293,000 after purchasing an additional 1,659 shares in the last quarter. Versant Capital Management Inc boosted its holdings in ITT by 3,513.3% during the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock worth $70,000 after buying an additional 527 shares in the last quarter. GAMMA Investing LLC grew its position in ITT by 13,886.0% during the first quarter. GAMMA Investing LLC now owns 214,406 shares of the conglomerate's stock worth $27,693,000 after buying an additional 212,873 shares during the period. Parallel Advisors LLC increased its holdings in ITT by 34.4% in the first quarter. Parallel Advisors LLC now owns 1,009 shares of the conglomerate's stock valued at $130,000 after buying an additional 258 shares in the last quarter. Finally, NBC Securities Inc. lifted its position in shares of ITT by 93,433.3% during the 1st quarter. NBC Securities Inc. now owns 2,806 shares of the conglomerate's stock valued at $362,000 after acquiring an additional 2,803 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a report on Friday, August 1st. UBS Group boosted their price objective on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. DA Davidson set a $190.00 target price on shares of ITT and gave the company a "buy" rating in a report on Monday, August 4th. Bank of America raised their target price on shares of ITT from $190.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Finally, KeyCorp raised their target price on shares of ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, September 12th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $188.11.

Insider Activity

In other news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction dated 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 sale, the chief executive officer directly owned 297,536 shares in the company, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

ITT Price Performance

ITT opened at $176.92 on Friday. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $185.57. The company has a 50 day moving average of $169.86 and a two-hundred day moving average of $152.52. 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 cap of $13.80 billion, a P/E ratio of 27.82, a P/E/G ratio of 2.18 and a beta of 1.39.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, beating the consensus estimate of $1.62 by $0.02. The company had revenue of $972.40 million during the quarter, compared to analysts' expectations of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.The business's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

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 issued 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 dividend payout ratio is currently 22.01%.

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.

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