Venturi Wealth Management LLC Sells 254 Shares of ITT Inc. $ITT

Venturi Wealth Management LLC reduced its stake in shares of ITT Inc. (NYSE:ITT) by 11.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,936 shares of the conglomerate’s stock after selling 254 shares during the quarter. Venturi Wealth Management LLC’s holdings in ITT were worth $304,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its stake in ITT by 26.2% during the second quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate’s stock worth $76,000 after acquiring an additional 101 shares during the last quarter. Farther Finance Advisors LLC increased its stake in ITT by 72.7% during the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate’s stock worth $103,000 after acquiring an additional 331 shares during the last quarter. CX Institutional bought a new position in shares of ITT during the first quarter valued at approximately $107,000. UMB Bank n.a. grew its stake in shares of ITT by 84.5% during the first quarter. UMB Bank n.a. now owns 856 shares of the conglomerate’s stock valued at $111,000 after buying an additional 392 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of ITT by 341.1% during the first quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate’s stock valued at $118,000 after buying an additional 706 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Stock Down 1.2%

Shares of NYSE ITT opened at $170.89 on Friday. 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 firm has a market capitalization of $13.33 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 2.13 and a beta of 1.38. The stock has a 50 day moving average price of $173.24 and a 200 day moving average price of $155.32. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $185.57.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.02. The firm had revenue of $972.40 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $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 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. Shareholders 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 yield of 0.8%. ITT’s dividend payout ratio is currently 22.01%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ITT. KeyCorp upped their target price on ITT from $192.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. UBS Group upped their target price on ITT from $168.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Citigroup reaffirmed a “buy” rating on shares of ITT in a research note on Thursday. TD Cowen upped their target price on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ITT in a research note on Wednesday. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.89.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of the company’s stock in a transaction 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 sale, the chief executive officer 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by corporate 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.