Farther Finance Advisors LLC Sells 171 Shares of ITT Inc. $ITT

Farther Finance Advisors LLC decreased its holdings in ITT Inc. (NYSE:ITT) by 21.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 615 shares of the conglomerate’s stock after selling 171 shares during the period. Farther Finance Advisors LLC’s holdings in ITT were worth $96,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CX Institutional purchased a new position in ITT during the first quarter valued at $107,000. UMB Bank n.a. increased its stake in ITT by 84.5% during the first quarter. UMB Bank n.a. now owns 856 shares of the conglomerate’s stock worth $111,000 after acquiring an additional 392 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in ITT by 341.1% during the first quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate’s stock worth $118,000 after acquiring an additional 706 shares during the last quarter. Quarry LP boosted its position in shares of ITT by 273.4% during the first quarter. Quarry LP now owns 926 shares of the conglomerate’s stock valued at $120,000 after buying an additional 678 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of ITT by 178.2% during the first quarter. Brooklyn Investment Group now owns 982 shares of the conglomerate’s stock valued at $127,000 after buying an additional 629 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of research reports. TD Cowen boosted their price target on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday. Bank of America upped their price target on ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. DA Davidson set a $190.00 price target on ITT and gave the stock a “buy” rating in a research report on Monday, August 4th. Cowen reissued a “buy” rating on shares of ITT in a research report on Thursday. Finally, Citigroup reaffirmed a “buy” rating and issued a $186.00 price target (up from $159.00) on shares of ITT in a report on Monday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.89.

ITT Stock Down 0.3%

ITT stock opened at $181.04 on Friday. The company has a market cap of $14.12 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.23 and a beta of 1.38. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $185.57. The firm has a 50-day moving average of $171.92 and a two-hundred day moving average of $154.09.

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

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.351 per share. The ex-dividend date 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 currently 22.01%.

Insider Activity

In other news, CEO Luca Savi sold 36,385 shares of the firm’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 transaction of $5,994,792.60. Following the completion of the sale, the chief executive officer owned 297,536 shares in the company, valued at $49,022,031.36. This trade represents a 10.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

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.