5,206 Shares in ITT Inc. $ITT Bought 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 acquired a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,206 shares of the conglomerate's stock, valued at approximately $670,000.

Other hedge funds have also modified their holdings of the company. Jump Financial LLC grew its stake in shares of ITT by 145.8% during the first quarter. Jump Financial LLC now owns 17,152 shares of the conglomerate's stock valued at $2,215,000 after purchasing an additional 10,173 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of ITT during the first quarter valued at approximately $609,000. XTX Topco Ltd bought a new stake in shares of ITT during the first quarter valued at approximately $1,214,000. Charles Schwab Investment Management Inc. grew its stake in shares of ITT by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 522,212 shares of the conglomerate's stock valued at $67,449,000 after purchasing an additional 4,905 shares during the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of ITT during the first quarter valued at approximately $273,000. 91.59% of the stock is owned by institutional investors.

ITT Trading Down 0.4%

ITT traded down $0.79 during mid-day trading on Friday, hitting $177.69. The stock had a trading volume of 517,920 shares, compared to its average volume of 289,494. The stock's fifty day simple moving average is $165.61 and its 200-day simple moving average is $149.53. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99. The firm has a market capitalization of $13.86 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.20 and a beta of 1.39. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $178.69.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.02. The company had revenue of $972.40 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business posted $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, research analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. 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 research note on Friday, August 1st. UBS Group increased their price objective on shares of ITT from $168.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. DA Davidson set a $190.00 price objective on shares of ITT and gave the company a "buy" rating in a report on Monday, August 4th. Bank of America increased their price objective on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Citigroup restated a "buy" rating and issued a $186.00 price objective (up from $159.00) on shares of ITT in a report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $183.67.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of the stock in a transaction 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 directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company's stock.

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.