Albert D Mason Inc. Sells 2,474 Shares of ITT Inc. $ITT

Key Points

• Albert D Mason Inc. reduced its stake in ITT Inc. by 14.6%, selling 2,474 shares, leaving it with 14,416 shares valued at approximately $2,261,000.
• Several institutional investors increased their holdings in ITT, with Farther Finance Advisors LLC growing its stake by 72.7%, indicating strong investor interest in the stock.
• Wall Street analysts are optimistic about ITT's prospects, with a consensus rating of "Moderate Buy" and an average price target increasing to $190.89.

Albert D Mason Inc. lessened its stake in ITT Inc. (NYSE:ITT - Free Report) by 14.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,416 shares of the conglomerate's stock after selling 2,474 shares during the period. ITT accounts for 1.6% of Albert D Mason Inc.'s portfolio, making the stock its 11th largest holding. Albert D Mason Inc.'s holdings in ITT were worth $2,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc raised its position in ITT by 26.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock worth $76,000 after purchasing an additional 101 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in ITT by 72.7% during the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock worth $103,000 after acquiring an additional 331 shares during the period. Geneos Wealth Management Inc. grew its holdings in ITT by 341.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate's stock worth $118,000 after acquiring an additional 706 shares during the period. Quarry LP grew its holdings in ITT by 273.4% during the 1st quarter. Quarry LP now owns 926 shares of the conglomerate's stock worth $120,000 after acquiring an additional 678 shares during the period. Finally, UMB Bank n.a. grew its holdings in ITT by 11.4% during the 2nd quarter. UMB Bank n.a. now owns 954 shares of the conglomerate's stock worth $150,000 after acquiring an additional 98 shares during the period. Institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ITT shares. UBS Group lifted their target price on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Cowen reaffirmed a "buy" rating on shares of ITT in a report on Thursday, October 2nd. TD Cowen lifted their target price on shares of ITT from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Citigroup reaffirmed a "buy" rating on shares of ITT in a report on Thursday, October 9th. Finally, Stifel Nicolaus lifted their target price on shares of ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $190.89.

Insider Buying and Selling

In related news, CEO Luca Savi sold 36,385 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $5,994,792.60. Following the sale, the chief executive officer directly owned 297,536 shares of the company's stock, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company's stock.

ITT Price Performance

Shares of ITT stock opened at $172.83 on Friday. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $185.57. The firm has a market capitalization of $13.48 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 2.11 and a beta of 1.38. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average of $173.87 and a 200-day moving average of $156.70.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The company had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. During the same quarter in the previous year, the business earned $1.49 EPS. The firm's revenue was up 7.3% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, equities research analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were given a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. ITT's payout ratio is currently 22.01%.

About ITT

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.

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