Primecap Management Co. CA acquired a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 9,000 shares of the conglomerate's stock, valued at approximately $1,780,000.
A number of other large investors also recently modified their holdings of ITT. Capital International Investors boosted its position in 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 buying an additional 258,936 shares during the period. BlackRock Inc. purchased a new position in shares of ITT in the second quarter worth about $1,715,593,000. Vanguard Group Inc. lifted its stake in shares of ITT by 7.9% in the 4th 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 during the last quarter. State Street Corp lifted its stake in shares of ITT by 7.4% in the 4th quarter. State Street Corp now owns 2,546,710 shares of the conglomerate's stock valued at $441,880,000 after acquiring an additional 175,367 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in ITT by 15.6% during the 4th quarter. Geode Capital Management LLC now owns 1,614,929 shares of the conglomerate's stock valued at $280,267,000 after acquiring an additional 217,360 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CAO Mesa Graziano Cheryl De sold 700 shares of the 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 transaction, the chief accounting officer directly owned 7,159 shares of the company's stock, valued at $1,535,891.86. This represents a 8.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.88% of the company's stock.
ITT Trading Up 2.2%
Shares of NYSE ITT opened at $210.50 on Thursday. ITT Inc. has a 1 year low of $166.96 and a 1 year high of $230.32. 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 firm has a 50-day moving average of $199.83 and a 200 day moving average of $199.68. The stock has a market cap of $18.82 billion, a P/E ratio of 41.27, a price-to-earnings-growth ratio of 1.68 and a beta of 1.27.
ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The conglomerate reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.16. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.39 billion. ITT had a return on equity of 15.90% and a net margin of 8.90%.The firm's quarterly revenue was up 51.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 EPS. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. As a group, sell-side analysts expect that ITT Inc. will post 8.25 EPS for the current fiscal year.
ITT Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Tuesday, September 8th will be issued 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%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on ITT. Weiss Ratings lowered ITT from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. Stifel Nicolaus lifted their target price on shares of ITT from $246.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. 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. 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. Finally, Citigroup raised their price target on shares of ITT from $254.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, ITT has a consensus rating of "Moderate Buy" and a consensus target price of $241.08.
Get Our Latest Analysis on ITT
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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