Yousif Capital Management LLC Sells 1,459 Shares of ITT Inc. $ITT

Key Points

• Yousif Capital Management LLC reduced its stake in ITT Inc. by 5.0%, selling 1,459 shares and retaining a total of 27,472 shares valued at approximately $4.3 million.
• Institutional investors hold 91.59% of ITT's stock, indicating strong institutional interest and confidence in the company.
• Multiple research firms have upgraded ITT's stock price targets significantly, with Bank of America raising its target from $190 to $210, reflecting positive sentiment from analysts.

Yousif Capital Management LLC decreased its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 5.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,472 shares of the conglomerate's stock after selling 1,459 shares during the quarter. Yousif Capital Management LLC's holdings in ITT were worth $4,308,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new position in ITT during the 1st quarter worth $156,406,000. T. Rowe Price Investment Management Inc. increased its holdings in ITT by 97.1% during the 1st 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. Findlay Park Partners LLP increased its holdings in ITT by 94.7% during the 1st quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate's stock worth $102,760,000 after purchasing an additional 387,000 shares during the period. Select Equity Group L.P. increased its holdings in ITT by 4.4% during the 1st quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate's stock worth $615,525,000 after purchasing an additional 200,676 shares during the period. Finally, AQR Capital Management LLC increased its holdings in ITT by 38.7% during the 1st quarter. AQR Capital Management LLC now owns 376,298 shares of the conglomerate's stock worth $47,636,000 after purchasing an additional 104,926 shares during the period. Institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ITT shares. UBS Group raised their price objective on ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. DA Davidson set a $190.00 price objective on ITT and gave the stock a "buy" rating in a report on Monday, August 4th. KeyCorp increased their target price on ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Bank of America increased their target price on ITT from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Finally, Cowen reaffirmed a "buy" rating on shares of ITT in a research report on Thursday, October 2nd. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, ITT presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.89.

ITT Stock Up 0.4%

ITT stock opened at $172.87 on Thursday. 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 stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.12 and a beta of 1.38. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $185.57. The business has a fifty day moving average price of $173.61 and a 200-day moving average price of $156.13.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $972.40 million during the quarter, compared to analysts' expectations of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Equities research analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were given a $0.351 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. ITT's dividend payout ratio (DPR) is presently 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by insiders.

ITT 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.

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