Strs Ohio Purchases New Shares in ITT Inc. $ITT

Strs Ohio purchased a new stake in ITT Inc. (NYSE:ITT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,917 shares of the conglomerate’s stock, valued at approximately $1,539,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Stephens Inc. AR boosted its position in shares of ITT by 4.8% in the 1st quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate’s stock valued at $254,000 after purchasing an additional 90 shares during the period. Prudent Man Advisors LLC lifted its stake in ITT by 2.3% in the 1st quarter. Prudent Man Advisors LLC now owns 4,280 shares of the conglomerate’s stock worth $553,000 after acquiring an additional 98 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in ITT by 0.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,643 shares of the conglomerate’s stock worth $2,150,000 after acquiring an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in ITT by 1.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,609 shares of the conglomerate’s stock worth $1,499,000 after acquiring an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in ITT by 8.3% in the 1st quarter. GAMMA Investing LLC now owns 1,660 shares of the conglomerate’s stock worth $214,000 after acquiring an additional 127 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of the company’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 sale, the chief executive officer directly owned 297,536 shares in the company, valued at $49,022,031.36. This represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup reissued a “buy” rating and issued a $186.00 price objective (up from $159.00) on shares of ITT in a research note on Monday, July 14th. KeyCorp increased their price objective on ITT from $192.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. UBS Group increased their price objective on ITT from $168.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Bank of America lifted their price target on ITT from $190.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday. Finally, DA Davidson set a $190.00 price target on ITT and gave the company a “buy” rating in a report on Monday, August 4th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.11.

ITT Stock Up 1.1%

ITT opened at $182.05 on Wednesday. The business has a 50 day moving average price of $166.51 and a 200 day moving average price of $150.13. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $182.51. 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 $14.20 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 2.22 and a beta of 1.39.

ITT (NYSE:ITT) 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. 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 analyst estimates of $947.48 million. During the same period in the previous year, the company earned $1.49 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Research analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be paid 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 payout ratio is currently 22.01%.

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.