Commerce Bank acquired a new stake in ITT Inc. (NYSE:ITT - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 14,222 shares of the conglomerate's stock, valued at approximately $2,813,000.
Several other institutional investors have also added to or reduced their stakes in the business. Capital International Investors lifted its holdings in shares of ITT by 3.0% during the fourth 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 in the last quarter. BlackRock Inc. bought a new stake in ITT in the 2nd quarter worth about $1,715,593,000. Vanguard Group Inc. increased its holdings in ITT by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate's stock worth $1,467,976,000 after buying an additional 620,217 shares in the last quarter. State Street Corp raised its position in ITT by 7.4% in the 4th quarter. State Street Corp now owns 2,546,710 shares of the conglomerate's stock worth $441,880,000 after buying an additional 175,367 shares during the last quarter. Finally, Geode Capital Management LLC raised 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 buying an additional 217,360 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of ITT from $246.00 to $250.00 and gave the company a "buy" rating in a report on Monday, July 20th. Barclays boosted their price objective on shares of ITT from $210.00 to $230.00 and gave the company an "equal weight" rating in a report on Thursday, May 7th. Citigroup increased 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. Wolfe Research upgraded shares of ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 target price on the stock in a report on Thursday, July 9th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $273.00 target price on shares of ITT in a research report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $241.08.
Get Our Latest Report on ITT
ITT Trading Down 1.5%
Shares of NYSE:ITT opened at $204.93 on Tuesday. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of 40.18, a PEG ratio of 1.70 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.26. The stock's 50-day simple moving average is $199.21 and its two-hundred day simple moving average is $199.47. ITT Inc. has a 52-week low of $166.96 and a 52-week high of $230.32.
ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, beating the consensus estimate of $1.92 by $0.16. ITT had a net margin of 8.90% and a return on equity of 15.90%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The business'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. Analysts expect that ITT Inc. will post 8.25 EPS for the current year.
ITT Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders 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 0.8%. ITT's dividend payout ratio (DPR) is presently 30.20%.
Insider Buying and Selling at ITT
In other news, CAO Mesa Graziano Cheryl De sold 700 shares of ITT stock in a transaction on Friday, August 7th. The shares were sold at an average price of $214.54, for a total transaction of $150,178.00. Following the transaction, the chief accounting officer owned 7,159 shares in the company, valued at $1,535,891.86. This trade represents a 8.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.88% of the stock is owned by corporate insiders.
About ITT
(
Free Report)
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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