ITT's (ITT) Outperform Rating Reiterated at Wolfe Research

Key Points

• Wolfe Research reiterated its “Outperform” rating on ITT and set a $272 price target, implying 36.38% upside from the prior close.
• Analyst sentiment remains positive, with 10 Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $248.73.
• ITT exceeded quarterly expectations, reporting $2.08 in adjusted EPS versus $1.92 expected and $1.47 billion in revenue, up 51.5% year over year; CEO Luca Savi also purchased about $1.0 million of company stock.

ITT (NYSE:ITT - Get Free Report)'s stock had its "outperform" rating reissued by investment analysts at Wolfe Research in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $272.00 price target on the conglomerate's stock. Wolfe Research's price objective would indicate a potential upside of 36.38% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus raised their target price on ITT from $246.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, July 20th. BMO Capital Markets reissued an "outperform" rating and issued a $273.00 price target on shares of ITT in a report on Friday, August 7th. Citigroup raised their price objective on shares of ITT from $254.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, August 7th. DA Davidson lifted their price objective on shares of ITT from $255.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, KeyCorp boosted their target price on shares of ITT from $250.00 to $263.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.73.

ITT Price Performance

NYSE ITT opened at $199.45 on Tuesday. ITT has a 12 month low of $166.96 and a 12 month high of $230.32. The firm has a market capitalization of $17.83 billion, a PE ratio of 39.11, a P/E/G ratio of 1.67 and a beta of 1.27. The company's 50 day simple moving average is $201.87 and its 200 day simple moving average is $199.46. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.26 and a quick ratio of 0.85.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, August 6th. The conglomerate reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $0.16. ITT had a return on equity of 15.90% and a net margin of 8.90%.The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. The firm's revenue for the quarter was up 51.5% compared to the same quarter last year. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. As a group, equities research analysts forecast that ITT will post 8.25 EPS for the current fiscal year.

Insider Buying and Selling at ITT

In other ITT news, CAO Graziano De sold 700 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $214.54, for a total transaction of $150,178.00. Following the sale, the chief accounting officer owned 7,159 shares in the company, valued at approximately $1,535,891.86. The trade was a 8.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Luca Savi acquired 5,019 shares of ITT stock in a transaction on Monday, August 31st. The shares were purchased at an average cost of $199.56 per share, with a total value of $1,001,591.64. Following the completion of the purchase, the chief executive officer directly owned 267,373 shares of the company's stock, valued at approximately $53,356,955.88. This represents a 1.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.88% of the company's stock.

Institutional Investors Weigh In On ITT

A number of large investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in ITT by 20,258.6% during the second quarter. California State Teachers Retirement System now owns 20,565,458 shares of the conglomerate's stock worth $4,067,025,000 after acquiring an additional 20,464,442 shares during the period. Capital International Investors boosted its holdings in ITT by 3.0% in the 4th quarter. Capital International Investors now owns 8,797,165 shares of the conglomerate's stock valued at $1,526,421,000 after purchasing an additional 258,936 shares during the period. BlackRock Inc. bought a new stake in ITT in the 2nd quarter valued at $1,715,593,000. Geode Capital Management LLC grew its position in ITT by 15.6% in the 4th quarter. Geode Capital Management LLC now owns 1,614,929 shares of the conglomerate's stock worth $280,267,000 after purchasing an additional 217,360 shares during the last quarter. Finally, Findlay Park Partners LLP bought a new position in shares of ITT during the 2nd quarter worth about $276,395,000. Institutional investors and hedge funds own 91.59% of the company's stock.

About ITT

ITT Inc is a diversified industrial manufacturer that develops and produces highly engineered components and systems for transportation, energy, industrial, aerospace and defense, and other specialized markets. The company serves original equipment manufacturers, distributors and aftermarket customers through a portfolio of mission-critical products designed to support safety, efficiency and reliability.

ITT operates through three primary business segments. Motion Technologies supplies brake pads, friction materials, shock absorbers, dampers and related components for automotive and rail applications.

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