Stock traders buy high volume of call options on ITT (NYSE:ITT)

VaselineAugust 27, 2024

0 3 minutes read

ITT Inc. (NYSE:ITT – Get a Free Report ) saw unusual activity in options trading on Monday. Stock traders purchased 3,013 call options on the company. This is an increase of about 376% from the average volume of 633 call options.

Institutional investors intervene on ITT

Several large investors have recently added to or reduced their stakes in ITT. Lynx Investment Advisory bought a new stake in shares of ITT in the second quarter valued at about $27,000. Rise Advisors LLC boosted its holdings in ITT by 788.5% in the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 205 shares during the period. Headlands Technologies LLC bought a new stake in ITT in the second quarter valued at $32,000. Brown Brothers Harriman & Co. acquired a new stake in shares of ITT in the second quarter valued at $36,000. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of ITT by 71.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock worth $45,000 after purchasing an additional 145 shares in the last quarter. 91.59% of shares are held by hedge funds and other institutional investors.

ITT trading down 0.5%

ITT opened at $137.75 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08, and a current ratio of 1.55. The stock’s 50-day moving average price is $133.43 and its 200-day moving average price is $131.26. ITT has a one year low of $91.94 and a one year high of $149.65. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of 1.81 and a beta of 1.41.

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ITT (NYSE:ITT – Get Free Report ) last announced its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping the consensus estimate of $1.46 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The company had revenue of $905.90 million for the quarter, compared to the consensus estimate of $916.38 million. In the same quarter last year, the company posted EPS of $1.33. ITT’s quarterly revenue was up 8.6% year over year. On average, equities analysts anticipate that ITT will post 5.83 EPS for the current year.

ITT announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.319 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a dividend of $1.28 on an annualized basis and a yield of 0.93%. ITT’s payout ratio is 24.90%.

Changes in Analyst Ratings

Several analysts have recently issued reports on ITT shares. UBS Group boosted their target price on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. TD Cowen boosted their price objective on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. KeyCorp upped their target price on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus upped their target price on ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Eight analysts have rated the stock with a buy rating. The stock presently has a consensus rating of “Buy” and a consensus price target of $151.00, according to MarketBeat.com.

Get the latest stock analysis on ITT

About ITT

(Get a free report)

ITT Inc, together with its subsidiaries, manufactures and sells critical engineered components and custom technology solutions for the transportation, industrial and energy markets in the United States and internationally. The Motion Technologies segment produces brake pads, blades, dampers and energy absorbing components; and sealing technologies primarily for the transportation industry, including cars, trucks, light and heavy duty commercial and military vehicles, buses and trains.