Sequoia Financial Advisors LLC Purchases 3,568 Shares of ITT Inc. $ITT

Key Points

• Sequoia Financial Advisors LLC increased its holdings in ITT Inc. by 12.0%, acquiring an additional 3,568 shares during the second quarter, bringing their total ownership to 33,399 shares valued at approximately $5.24 million.
• Wall Street analysts are optimistic about ITT, with a consensus rating of "Moderate Buy" and a price target of $190.89, as 11 out of 12 analysts have given a Buy rating.
• ITT Inc. has declared a quarterly dividend of $0.351 per share, translating to an annualized dividend of $1.40 and a dividend yield of 0.8%.

Sequoia Financial Advisors LLC boosted its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 12.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,399 shares of the conglomerate's stock after buying an additional 3,568 shares during the quarter. Sequoia Financial Advisors LLC's holdings in ITT were worth $5,238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ITT. AdvisorNet Financial Inc raised its holdings in ITT by 26.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock worth $76,000 after purchasing an additional 101 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in ITT by 72.7% in the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock worth $103,000 after purchasing an additional 331 shares in the last quarter. CX Institutional bought a new position in ITT in the 1st quarter worth $107,000. Geneos Wealth Management Inc. raised its holdings in ITT by 341.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate's stock worth $118,000 after purchasing an additional 706 shares in the last quarter. Finally, Quarry LP raised its holdings in ITT by 273.4% in the 1st quarter. Quarry LP now owns 926 shares of the conglomerate's stock worth $120,000 after purchasing an additional 678 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ITT has been the subject of several research reports. Cowen restated a "buy" rating on shares of ITT in a report on Thursday, October 2nd. KeyCorp lifted their price target on shares of ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Bank of America lifted their price target on shares of ITT from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Citigroup reissued a "buy" rating on shares of ITT in a research report on Thursday, October 9th. Finally, UBS Group lifted their price target on shares of ITT from $168.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.89.

ITT Price Performance

Shares of NYSE ITT opened at $172.15 on Wednesday. The firm has a market cap of $13.43 billion, a P/E ratio of 27.07, a PEG ratio of 2.11 and a beta of 1.38. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $185.57. 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 50 day moving average of $173.46 and a 200 day moving average of $156.01.

ITT (NYSE:ITT - Get Free Report) last issued 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. ITT had a return on equity of 18.08% and a net margin of 13.99%.The business had revenue of $972.40 million for the quarter, compared to the consensus estimate of $947.48 million. During the same period last year, the business posted $1.49 EPS. The company's revenue was up 7.3% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, research analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is presently 22.01%.

Insider Activity

In related news, CEO Luca Savi sold 36,385 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 297,536 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.