Erste Asset Management GmbH Has $6.06 Million Stock Position in ITT Inc. $ITT

Erste Asset Management GmbH reduced its position in shares of ITT Inc. (NYSE:ITT) by 10.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,661 shares of the conglomerate’s stock after selling 5,581 shares during the period. Erste Asset Management GmbH owned approximately 0.06% of ITT worth $6,059,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP raised its position in ITT by 101.6% during the fourth quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 125 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in ITT during the fourth quarter valued at approximately $59,000. Versant Capital Management Inc raised its position in ITT by 3,513.3% during the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate’s stock valued at $70,000 after purchasing an additional 527 shares in the last quarter. Farther Finance Advisors LLC raised its position in ITT by 72.7% during the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate’s stock valued at $103,000 after purchasing an additional 331 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in ITT by 13.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate’s stock valued at $107,000 after purchasing an additional 87 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Performance

NYSE ITT opened at $165.4620 on Thursday. The company has a market capitalization of $12.91 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 2.06 and a beta of 1.38. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $171.57. The stock has a fifty day simple moving average of $159.89 and a 200 day simple moving average of $146.57. 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 posted its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.02. The business had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.ITT’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Sell-side analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Bank of America boosted their price objective on shares of ITT from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, May 21st. The Goldman Sachs Group upped their price target on shares of ITT from $160.00 to $177.00 and gave the stock a “buy” rating in a report on Monday, May 19th. DA Davidson set a $190.00 price target on shares of ITT and gave the stock a “buy” rating in a report on Monday, August 4th. KeyCorp upped their price target on shares of ITT from $180.00 to $192.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Stifel Nicolaus upped their price target on shares of ITT from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.22.

Insiders Place Their Bets

In related news, CEO Luca Savi sold 36,385 shares of the 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by insiders.

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.