XTX Topco Ltd Purchases Shares of 9,398 ITT Inc. (NYSE:ITT)

Key Points

• XTX Topco Ltd acquired 9,398 shares of ITT Inc. valued at approximately $1,214,000 during the first quarter.
• ITT's stock recently traded down by 3.5%, reaching $163.96, with a market capitalization of $12.90 billion.
• The company announced a quarterly dividend of $0.351, which represents an annual yield of 0.9%, with a payout ratio of 22.26%.

XTX Topco Ltd acquired a new position in shares of ITT Inc. (NYSE:ITT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,398 shares of the conglomerate's stock, valued at approximately $1,214,000.

A number of other institutional investors have also made changes to their positions in the stock. Merit Financial Group LLC acquired a new position in ITT in the first quarter valued at about $273,000. Sequoia Financial Advisors LLC grew its stake in ITT by 10.2% in the first quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock valued at $3,853,000 after acquiring an additional 2,765 shares during the period. Assenagon Asset Management S.A. grew its stake in ITT by 19.9% in the first quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate's stock valued at $2,267,000 after acquiring an additional 2,917 shares during the period. Kestra Private Wealth Services LLC bought a new stake in shares of ITT in the first quarter valued at about $291,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of ITT by 22.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,049 shares of the conglomerate's stock valued at $1,293,000 after purchasing an additional 1,659 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Trading Down 0.8%

ITT traded down $1.26 during midday trading on Tuesday, hitting $165.68. 139,643 shares of the company were exchanged, compared to its average volume of 520,816. The firm has a market capitalization of $12.92 billion, a P/E ratio of 26.05, a P/E/G ratio of 2.05 and a beta of 1.38. The firm's 50 day moving average price is $156.16 and its 200-day moving average price is $145.16. 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 Inc. has a 1-year low of $105.64 and a 1-year high of $170.16.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%. The firm had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. During the same period last year, the business posted $1.49 EPS. The business's revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be paid a $0.351 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ITT shares. Stifel Nicolaus upped their target price on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a report on Friday. DA Davidson upped their target price on ITT from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Monday. Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. KeyCorp increased their price target on ITT from $180.00 to $192.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Bank of America upped their target price on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $179.22.

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.