Callan Family Office LLC Purchases Shares of 1,486 ITT Inc. $ITT

Callan Family Office LLC bought a new position in shares of ITT Inc. (NYSE:ITT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,486 shares of the conglomerate’s stock, valued at approximately $233,000.

A number of other large investors also recently added to or reduced their stakes in the business. Nuveen LLC bought a new stake in shares of ITT in the 1st quarter worth about $156,406,000. T. Rowe Price Investment Management Inc. increased its stake in ITT by 97.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate’s stock worth $237,125,000 after purchasing an additional 904,654 shares during the period. Findlay Park Partners LLP boosted its stake in shares of ITT by 94.7% during the first quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate’s stock valued at $102,760,000 after purchasing an additional 387,000 shares during the period. Select Equity Group L.P. lifted its holdings in ITT by 4.4% during the 1st quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate’s stock valued at $615,525,000 after buying an additional 200,676 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of ITT by 38.7% during the first quarter. AQR Capital Management LLC now owns 376,298 shares of the conglomerate’s stock valued at $47,636,000 after acquiring an additional 104,926 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ITT

In related news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction 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 $49,022,031.36. The trade was a 10.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

ITT Stock Performance

Shares of ITT opened at $170.72 on Friday. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $185.57. The stock has a market capitalization of $13.32 billion, a PE ratio of 26.84, a PEG ratio of 2.13 and a beta of 1.38. 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 stock has a 50-day simple moving average of $173.73 and a 200-day simple moving average of $156.41.

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 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 the consensus estimate of $947.48 million. During the same period in the prior year, the company earned $1.49 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, analysts predict 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 paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. ITT’s payout ratio is 22.01%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup reaffirmed a “buy” rating on shares of ITT in a report on Thursday, October 9th. Stifel Nicolaus raised their target price on ITT from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of ITT in a report on Wednesday, October 8th. Bank of America boosted their target price on shares of ITT from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Finally, Cowen restated a “buy” rating on shares of ITT in a research report on Thursday, October 2nd. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.89.

ITT 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.