Trexquant Investment LP Invests $7.24 Million in ITT Inc. $ITT

Key Points

• Trexquant Investment LP has acquired a new stake in ITT Inc., purchasing 56,047 shares valued at approximately $7.2 million during the 1st quarter of the year.
• ITT recently reported $1.64 earnings per share for the last quarter, exceeding analysts' expectations, and has set its FY 2025 guidance between 6.350-6.550 EPS.
• The company announced a quarterly dividend of $0.351, reflecting an annualized dividend yield of 0.8%, with the ex-dividend date set for September 2nd.

Trexquant Investment LP bought a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 56,047 shares of the conglomerate's stock, valued at approximately $7,239,000. Trexquant Investment LP owned approximately 0.07% of ITT at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Select Equity Group L.P. lifted its position in shares of ITT by 7.7% during the fourth quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock worth $652,237,000 after acquiring an additional 326,947 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of ITT by 97.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock worth $237,125,000 after purchasing an additional 904,654 shares during the period. Nuveen LLC bought a new position in shares of ITT in the first quarter worth $156,406,000. Nuveen Asset Management LLC increased its holdings in shares of ITT by 17.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,139,303 shares of the conglomerate's stock worth $162,784,000 after purchasing an additional 171,474 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of ITT by 1.3% in the fourth quarter. Janus Henderson Group PLC now owns 928,116 shares of the conglomerate's stock worth $132,611,000 after purchasing an additional 11,980 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Stock Up 1.5%

Shares of NYSE ITT traded up $2.45 on Thursday, reaching $170.97. 88,661 shares of the company's stock traded hands, compared to its average volume of 492,964. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $174.73. The business's 50 day simple moving average is $163.54 and its two-hundred day simple moving average is $148.15. The company has a market cap of $13.34 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 2.10 and a beta of 1.39. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results 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 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 business's revenue for the quarter was up 7.3% on a year-over-year basis. 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. As a group, equities research analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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 of this dividend is Tuesday, September 2nd. ITT's payout ratio is 22.01%.

Insider Buying and Selling

In other ITT news, CEO Luca Savi sold 36,385 shares of ITT 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 completion of the sale, the chief executive officer 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ITT shares. UBS Group upped their price target on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday. DA Davidson set a $190.00 target price on ITT and gave the company a "buy" rating in a research note on Monday, August 4th. Citigroup reissued a "buy" rating and issued a $186.00 target price (up previously from $159.00) on shares of ITT in a research note on Monday, July 14th. KeyCorp increased their target price on ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Nine 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 currently has an average rating of "Moderate Buy" and an average target price of $182.78.

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.