Geneos Wealth Management Inc. Has $118,000 Position in ITT Inc. $ITT

Geneos Wealth Management Inc. increased its holdings in shares of ITT Inc. (NYSE:ITT) by 341.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 913 shares of the conglomerate’s stock after acquiring an additional 706 shares during the quarter. Geneos Wealth Management Inc.’s holdings in ITT were worth $118,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ITT. Versant Capital Management Inc increased its holdings in shares of ITT by 3,513.3% during the 1st quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate’s stock worth $70,000 after acquiring an additional 527 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of ITT by 72.7% during the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate’s stock worth $103,000 after acquiring an additional 331 shares during the last quarter. CX Institutional acquired a new stake in ITT during the 1st quarter worth approximately $107,000. UMB Bank n.a. lifted its holdings in ITT by 84.5% during the 1st quarter. UMB Bank n.a. now owns 856 shares of the conglomerate’s stock worth $111,000 after purchasing an additional 392 shares during the last quarter. Finally, Quarry LP lifted its holdings in ITT by 273.4% during the 1st quarter. Quarry LP now owns 926 shares of the conglomerate’s stock worth $120,000 after purchasing an additional 678 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Transactions at ITT

In other ITT news, CEO Luca Savi sold 36,385 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 297,536 shares in the company, valued at approximately $49,022,031.36. This represents a 10.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

ITT Trading Down 1.2%

Shares of NYSE ITT opened at $179.62 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $183.33. The firm has a 50 day moving average price of $166.95 and a two-hundred day moving average price of $150.34. The stock has a market cap of $14.01 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 2.24 and a beta of 1.39.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The firm had revenue of $972.40 million during the quarter, compared to analysts’ expectations of $947.48 million. During the same period in the prior year, the company posted $1.49 EPS. The company’s revenue was up 7.3% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, equities analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

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 given a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. ITT’s dividend payout ratio is 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.