DAVENPORT & Co LLC Invests $221,000 in ITT Inc. $ITT

DAVENPORT & Co LLC bought a new stake in shares of ITT Inc. (NYSE:ITT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,407 shares of the conglomerate’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jump Financial LLC grew its holdings in ITT by 145.8% during the 1st quarter. Jump Financial LLC now owns 17,152 shares of the conglomerate’s stock valued at $2,215,000 after buying an additional 10,173 shares in the last quarter. GSA Capital Partners LLP purchased a new position in ITT during the 1st quarter valued at $609,000. XTX Topco Ltd purchased a new position in ITT during the 1st quarter valued at $1,214,000. Charles Schwab Investment Management Inc. raised its position in ITT by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 522,212 shares of the conglomerate’s stock valued at $67,449,000 after purchasing an additional 4,905 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in ITT by 10.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate’s stock valued at $3,853,000 after purchasing an additional 2,765 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Cowen reissued a “buy” rating on shares of ITT in a research report on Thursday, October 2nd. TD Cowen upped their target price on ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. UBS Group increased their price target on ITT from $168.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Citigroup reissued a “buy” rating on shares of ITT in a report on Thursday. 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. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, ITT has an average rating of “Moderate Buy” and an average price target of $190.89.

Insider Transactions at ITT

In related news, CEO Luca Savi sold 36,385 shares of ITT 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 transaction, the chief executive officer directly owned 297,536 shares in the company, valued at approximately $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.

ITT Trading Up 0.5%

ITT opened at $171.77 on Tuesday. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $185.57. The business has a fifty day simple moving average of $173.34 and a 200-day simple moving average of $155.90. The firm has a market cap of $13.40 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.11 and a beta of 1.38. 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 (NYSE:ITT) last released its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS 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 business had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. During the same period last year, the business posted $1.49 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, equities analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were issued a $0.351 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. ITT’s dividend payout ratio (DPR) is 22.01%.

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.