7,448 Shares in ITT Inc. $ITT Purchased by Fosun International Ltd

Key Points

• Fosun International purchased 7,448 ITT shares during the second quarter, valued at approximately $1.47 million. Institutional investors and hedge funds collectively own 91.59% of ITT.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $241.08; several firms recently raised their targets.
• ITT exceeded quarterly expectations, reporting $2.08 in EPS and $1.47 billion in revenue, while revenue increased 51.5% year over year. The company also declared a quarterly dividend of $0.386 per share, representing a 0.8% yield.

Fosun International Ltd bought a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,448 shares of the conglomerate's stock, valued at approximately $1,473,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Moore Capital Management LP grew its stake in shares of ITT by 48.0% in the 2nd quarter. Moore Capital Management LP now owns 173,567 shares of the conglomerate's stock valued at $34,325,000 after buying an additional 56,304 shares during the period. Greenleaf Trust raised its position in shares of ITT by 14.4% during the 2nd quarter. Greenleaf Trust now owns 2,432 shares of the conglomerate's stock valued at $481,000 after buying an additional 306 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in ITT by 2.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,749 shares of the conglomerate's stock valued at $52,159,000 after acquiring an additional 6,333 shares during the last quarter. New Mexico Educational Retirement Board grew its position in ITT by 10.1% in the second quarter. New Mexico Educational Retirement Board now owns 18,600 shares of the conglomerate's stock worth $3,678,000 after acquiring an additional 1,700 shares during the period. Finally, Van ECK Associates Corp increased its stake in ITT by 9.0% during the second quarter. Van ECK Associates Corp now owns 74,860 shares of the conglomerate's stock worth $14,804,000 after acquiring an additional 6,190 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ITT

In other ITT news, CAO Mesa Graziano Cheryl De sold 700 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $214.54, for a total value of $150,178.00. Following the completion of the transaction, the chief accounting officer owned 7,159 shares in the company, valued at $1,535,891.86. The trade was a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citigroup upped their price target on ITT from $254.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Wolfe Research raised shares of ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 target price on the stock in a research report on Thursday, July 9th. Barclays increased their target price on shares of ITT from $210.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. DA Davidson boosted their price target on shares of ITT from $255.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Finally, Robert W. Baird set a $246.00 price objective on shares of ITT in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $241.08.

ITT Stock Performance

NYSE ITT opened at $202.80 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.26 and a quick ratio of 0.85. The company has a market cap of $18.13 billion, a P/E ratio of 39.76, a P/E/G ratio of 1.66 and a beta of 1.27. The stock has a 50-day moving average of $200.18 and a two-hundred day moving average of $199.70. ITT Inc. has a 1-year low of $166.96 and a 1-year high of $230.32.

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

ITT Announces Dividend

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. This represents a $1.54 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 8th. 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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