Allianz Asset Management GmbH Buys 6,769 Shares of ITT Inc. $ITT

Allianz Asset Management GmbH lifted its stake in shares of ITT Inc. (NYSE:ITT) by 12.2% in the 2nd quarter, Holdings Channel reports. The fund owned 62,043 shares of the conglomerate’s stock after acquiring an additional 6,769 shares during the quarter. Allianz Asset Management GmbH’s holdings in ITT were worth $9,730,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ITT shares. DA Davidson set a $190.00 target price on shares of ITT and gave the stock a “buy” rating in a research note on Monday, August 4th. Stifel Nicolaus raised their target price on shares of ITT from $202.00 to $203.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group raised their target price on shares of ITT from $168.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Bank of America raised their target price on shares of ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Finally, TD Cowen raised their price target on shares of ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $191.00.

ITT Price Performance

ITT stock opened at $174.74 on Wednesday. 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 Inc. has a 12 month low of $105.64 and a 12 month high of $185.57. The firm has a market cap of $13.63 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.12 and a beta of 1.38. The company’s 50-day moving average price is $174.10 and its two-hundred day moving average price is $157.65.

ITT (NYSE:ITT) last released its earnings results on Thursday, July 31st. The conglomerate reported $1.64 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 for the quarter, compared to analyst estimates of $947.48 million. During the same period last year, the firm earned $1.49 EPS. The business’s quarterly 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 anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

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

Insider Activity

In related news, CEO Luca Savi sold 36,385 shares of ITT 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 sale, the chief executive officer directly owned 297,536 shares of the company’s stock, valued at approximately $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 through this hyperlink. Company insiders own 0.47% of the company’s stock.

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.