5,206 Shares in ITT Inc. $ITT Acquired by United Services Automobile Association

Key Points

• United Services Automobile Association has invested approximately $670,000 in ITT Inc., acquiring 5,206 shares during the first quarter.
• Multiple institutional investors, including Goldman Sachs and Dynamic Technology Lab, have made significant adjustments to their stakes in ITT, with institutional ownership now at 91.59%.
• Research analysts are bullish on ITT, with nine analysts giving the stock a "Buy" rating and a consensus price target of $182.78, reflecting overall optimism about the company's future performance.

United Services Automobile Association purchased a new position in shares of ITT Inc. (NYSE:ITT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,206 shares of the conglomerate's stock, valued at approximately $670,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITT. Versant Capital Management Inc grew its holdings in ITT by 3,513.3% during the 1st quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock worth $70,000 after acquiring an additional 527 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of ITT by 72.7% in the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock valued at $103,000 after buying an additional 331 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of ITT by 13.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock valued at $107,000 after buying an additional 87 shares in the last quarter. CX Institutional acquired a new position in shares of ITT in the 1st quarter valued at $107,000. Finally, UMB Bank n.a. boosted its holdings in shares of ITT by 84.5% in the 1st quarter. UMB Bank n.a. now owns 856 shares of the conglomerate's stock valued at $111,000 after buying an additional 392 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Trading Up 1.2%

NYSE ITT traded up $2.14 during mid-day trading on Monday, reaching $179.63. 94,359 shares of the stock were exchanged, compared to its average volume of 488,039. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $180.30. The business's fifty day simple moving average is $165.61 and its 200 day simple moving average is $149.64. The stock has a market capitalization of $14.01 billion, a PE ratio of 28.24, a PEG ratio of 2.19 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The firm had revenue of $972.40 million for the quarter, compared to analyst estimates of $947.48 million. During the same quarter last year, the business earned $1.49 earnings per share. ITT'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. On average, research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company 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 dividend of $0.351 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. ITT's dividend payout ratio (DPR) is 22.01%.

Insider Transactions at ITT

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 transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ITT. The Goldman Sachs Group upped their target price on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. Bank of America upped their price objective on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Citigroup restated a "buy" rating and set a $186.00 price objective (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. Stifel Nicolaus increased their price target on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, UBS Group increased their price target on shares of ITT from $168.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $183.67.

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.