AlphaGrep UK Ltd purchased a new stake in ITT Inc. (NYSE:ITT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,234 shares of the conglomerate's stock, valued at approximately $1,035,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in ITT in the second quarter valued at $28,000. Elyxium Wealth LLC purchased a new stake in ITT in the 4th quarter valued at $29,000. Bayban acquired a new stake in ITT during the 4th quarter worth $31,000. Trust Co. of Vermont acquired a new stake in ITT during the 2nd quarter worth $33,000. Finally, Parkside Financial Bank & Trust grew its position in ITT by 62.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate's stock worth $34,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on ITT. Weiss Ratings cut ITT from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Stifel Nicolaus increased their price objective on ITT from $246.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. DA Davidson boosted their target price on ITT from $255.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Citigroup upped their price target on ITT from $254.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $273.00 price target on shares of ITT in a report on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $244.82.
Check Out Our Latest Stock Report on ITT
ITT Stock Performance
NYSE:ITT opened at $203.51 on Friday. 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 market cap of $18.19 billion, a PE ratio of 39.90, a P/E/G ratio of 1.66 and a beta of 1.27. The firm has a 50 day simple moving average of $200.61 and a 200-day simple moving average of $199.69. 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 announced its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.16. ITT had a return on equity of 15.90% and a net margin of 8.90%.The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the business earned $1.64 earnings per share. The business's revenue for the quarter 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, equities analysts expect that ITT Inc. will post 8.25 EPS for the current year.
ITT Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Tuesday, September 8th will be given a dividend of $0.386 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.54 annualized dividend and a yield of 0.8%. ITT's dividend payout ratio is 30.20%.
Insider Activity at ITT
In other news, CAO Graziano 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 transaction of $150,178.00. Following the completion of the sale, the chief accounting officer directly owned 7,159 shares of the company's stock, valued at $1,535,891.86. The trade was a 8.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Luca Savi acquired 5,019 shares of the company's stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $199.56 per share, with a total value of $1,001,591.64. Following the completion of the acquisition, the chief executive officer owned 267,373 shares in the company, valued at approximately $53,356,955.88. The trade was a 1.91% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.88% of the company's stock.
ITT Company Profile
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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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