Virtu Financial LLC Acquires Shares of 5,504 ITT Inc. (NYSE:ITT)

Key Points

• Virtu Financial LLC has acquired a new position in ITT Inc. by purchasing 5,504 shares valued at approximately $711,000 during the first quarter.
• Several institutional investors increased their stakes in ITT, with Quarry LP and Versant Capital Management Inc. showing significant growth in their positions during the last quarters.
• ITT's stock has received multiple upgrades from analysts, with target prices raised by firms including Stifel Nicolaus, Goldman Sachs, and Citigroup, reflecting a general sentiment of "buy" among analysts.

Virtu Financial LLC purchased a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,504 shares of the conglomerate's stock, valued at approximately $711,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP raised its position in shares of ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after purchasing an additional 125 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of ITT during the 4th quarter worth approximately $59,000. Versant Capital Management Inc increased its position in ITT by 3,513.3% in the 1st quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock valued at $70,000 after acquiring an additional 527 shares during the period. Farther Finance Advisors LLC increased its position in 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 acquiring an additional 331 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in 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 acquiring an additional 87 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ITT has been the topic of several analyst reports. Stifel Nicolaus raised their target price on ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group raised their target price on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Citigroup restated a "buy" rating and issued a $186.00 target price (up from $159.00) on shares of ITT in a research report on Monday, July 14th. Finally, KeyCorp raised their target price on ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, ITT presently has an average rating of "Moderate Buy" and an average price target of $179.22.

ITT Stock Performance

Shares of NYSE ITT opened at $170.02 on Wednesday. The stock has a fifty day moving average price of $158.02 and a two-hundred day moving average price of $145.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. The firm has a market cap of $13.26 billion, a P/E ratio of 26.73, a PEG ratio of 2.04 and a beta of 1.38. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $170.33.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data 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 business had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%. The company's revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $1.49 EPS. Research analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

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

Insider Buying and Selling at ITT

In other news, CEO Luca Savi sold 36,385 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was 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 $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

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.

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