11,556 Shares in ITT Inc. $ITT Acquired by Oppenheimer Asset Management Inc.

Key Points

• Oppenheimer Asset Management acquired 11,556 ITT shares worth approximately $2.29 million in the second quarter. Institutional investors collectively own 91.59% of ITT’s outstanding stock.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and one Hold rating; the consensus rating is “Moderate Buy” with a $241.08 price target.
• ITT exceeded quarterly earnings and revenue expectations, reporting $2.08 in EPS and $1.47 billion in revenue, up 51.5% year over year. The company also declared a quarterly dividend of $0.386 per share, representing a 0.7% annualized yield.

Oppenheimer Asset Management Inc. purchased a new position in ITT Inc. (NYSE:ITT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,556 shares of the conglomerate's stock, valued at approximately $2,285,000.

A number of other institutional investors have also added to or reduced their stakes in ITT. Andina Capital Management LLC lifted its holdings in shares of ITT by 1.6% in the fourth quarter. Andina Capital Management LLC now owns 3,166 shares of the conglomerate's stock worth $549,000 after buying an additional 49 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in ITT by 2.8% during the first quarter. Kestra Private Wealth Services LLC now owns 1,942 shares of the conglomerate's stock valued at $370,000 after acquiring an additional 52 shares in the last quarter. Whittier Trust Co. grew its stake in ITT by 5.1% during the first quarter. Whittier Trust Co. now owns 1,064 shares of the conglomerate's stock valued at $207,000 after acquiring an additional 52 shares in the last quarter. Toronto Dominion Bank increased its holdings in ITT by 2.2% in the 4th quarter. Toronto Dominion Bank now owns 2,481 shares of the conglomerate's stock valued at $430,000 after acquiring an additional 53 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in ITT by 3.8% in the 4th quarter. Stephens Inc. AR now owns 1,654 shares of the conglomerate's stock valued at $287,000 after acquiring an additional 60 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ITT has been the subject of several research reports. Weiss Ratings reissued a "buy (b-)" rating on shares of ITT in a report on Friday, August 7th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $273.00 target price on shares of ITT in a report on Friday, August 7th. DA Davidson boosted their target price on ITT from $255.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Wall Street Zen lowered ITT from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Citigroup raised their price target on ITT from $254.00 to $267.00 and gave the company a "buy" rating in a report on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $241.08.

Insider Buying and Selling

In other ITT news, CAO Mesa Graziano Cheryl De sold 700 shares of the business's stock in a transaction that occurred on 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 directly owned 7,159 shares of the company's stock, valued at $1,535,891.86. The trade was a 8.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.88% of the company's stock.

ITT Price Performance

ITT stock opened at $219.37 on Monday. The company has a market cap of $19.61 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 1.79 and a beta of 1.27. The firm's fifty day moving average is $196.50 and its 200 day moving average is $198.26. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. ITT Inc. has a 52-week low of $164.00 and a 52-week high of $230.32.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.92 by $0.16. ITT had a net margin of 8.90% and a return on equity of 15.90%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same period last year, the company posted $1.64 EPS. The business's revenue was up 51.5% on a year-over-year basis. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Sell-side analysts forecast that ITT Inc. will post 8.25 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Tuesday, September 8th will be given a $0.386 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $1.54 annualized dividend and a yield of 0.7%. ITT's dividend payout ratio (DPR) is currently 30.20%.

About ITT

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company's operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.

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