Town & Country Bank & Trust CO dba First Bankers Trust CO Purchases New Stake in ITT Inc. $ITT

Key Points

• Town & Country Bank & Trust CO has acquired a new stake in ITT Inc., purchasing 1,500 shares valued at approximately $235,000 during the second quarter.
• Analyst ratings for ITT are predominantly positive, with nine research analysts giving it a Buy rating and a consensus target price of $188.11, reflecting optimism about the company's future performance.
• ITT Inc. recently announced a quarterly dividend payment of $0.351 per share, representing an annualized yield of 0.8% and reflecting a 22.01% dividend payout ratio.

Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in shares of ITT Inc. (NYSE:ITT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,500 shares of the conglomerate's stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITT. AdvisorNet Financial Inc increased its stake in shares of ITT by 26.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock worth $76,000 after purchasing an additional 101 shares during the last quarter. Versant Capital Management Inc grew 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 valued at $70,000 after purchasing an additional 527 shares during the period. Farther Finance Advisors LLC grew its holdings in ITT by 72.7% during the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock valued at $103,000 after purchasing an additional 331 shares during the period. CX Institutional purchased a new stake in ITT in the first quarter worth $107,000. Finally, UMB Bank n.a. raised its stake in shares of ITT by 84.5% in the first quarter. UMB Bank n.a. now owns 856 shares of the conglomerate's stock valued at $111,000 after buying an additional 392 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ITT shares. Bank of America increased their price target on ITT from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Citigroup reiterated a "buy" rating and set a $186.00 target price (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. DA Davidson set a $190.00 target price on shares of ITT and gave the stock a "buy" rating in a research note on Monday, August 4th. KeyCorp upped their price target on shares of ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Finally, UBS Group raised their price objective on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $188.11.

ITT Trading Up 0.3%

Shares of ITT stock opened at $181.50 on Tuesday. 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 business has a 50-day moving average price of $168.39 and a two-hundred day moving average price of $151.45. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $185.57. The firm has a market cap of $14.16 billion, a P/E ratio of 28.54, a price-to-earnings-growth ratio of 2.23 and a beta of 1.39.

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

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is presently 22.01%.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of the company's 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 completion of the sale, the chief executive officer directly owned 297,536 shares in the company, valued at $49,022,031.36. This represents a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

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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