7,742 Shares in ITT Inc. $ITT Bought by Algebris UK Ltd.

Algebris UK Ltd. purchased a new position in ITT Inc. (NYSE:ITT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,742 shares of the conglomerate's stock, valued at approximately $1,526,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. 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 during the 2nd quarter worth approximately $1,715,593,000. Vanguard Group Inc. lifted its position in shares of ITT by 7.9% in the fourth quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate's stock valued at $1,467,976,000 after acquiring an additional 620,217 shares in the last quarter. State Street Corp boosted its holdings in shares of ITT by 7.4% during the 4th quarter. State Street Corp now owns 2,546,710 shares of the conglomerate's stock valued at $441,880,000 after purchasing an additional 175,367 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in ITT by 15.6% in the fourth 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. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Mesa Graziano Cheryl De sold 700 shares of the firm's stock in a transaction 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 owned 7,159 shares in the company, valued at $1,535,891.86. This trade represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

ITT has been the topic of a number of recent analyst reports. DA Davidson increased their price objective on shares of ITT from $255.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Wolfe Research raised shares of ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 price target for the company in a research report on Thursday, July 9th. Weiss Ratings restated a "buy (b-)" rating on shares of ITT in a report on Friday, August 7th. Wall Street Zen downgraded ITT from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, KeyCorp upped their price target on shares of ITT from $250.00 to $263.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $241.08.

ITT Price Performance

Shares of NYSE ITT opened at $213.34 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60. ITT Inc. has a twelve month low of $164.00 and a twelve month high of $230.32. The stock has a 50 day moving average of $198.17 and a two-hundred day moving average of $198.99. The stock has a market cap of $19.07 billion, a P/E ratio of 41.83, a P/E/G ratio of 1.78 and a beta of 1.27.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 earnings per share for the quarter, beating 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 firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the firm posted $1.64 EPS. ITT's quarterly revenue was up 51.5% on a year-over-year basis. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. On average, research analysts forecast that ITT Inc. will post 8.25 earnings per share for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Tuesday, September 8th will be paid a $0.386 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.54 annualized dividend and a yield of 0.7%. ITT's payout ratio is presently 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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