AMF Tjanstepension AB Boosts Holdings in ITT Inc. $ITT

Key Points

• AMF Tjanstepension AB increased its stake in ITT Inc. by 31.8% in the first quarter, bringing its holdings to 33,048 shares valued at about $6.3 million.
• ITT reported strong quarterly results, with earnings of $1.98 per share and revenue of $1.21 billion, both ahead of estimates. Revenue rose 32.7% year over year, and the company reaffirmed an FY 2026 EPS guidance range of 7.700 to 8.000.
• The company also paid a quarterly dividend of $0.386 per share, which annualizes to $1.54 and yields about 0.8%. Meanwhile, analysts remain broadly positive, with a consensus rating of Moderate Buy and a target price of $234.42.

AMF Tjanstepension AB grew its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 31.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,048 shares of the conglomerate's stock after acquiring an additional 7,966 shares during the quarter. AMF Tjanstepension AB's holdings in ITT were worth $6,297,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Amundi grew its stake in shares of ITT by 22,565.6% during the first quarter. Amundi now owns 7,253 shares of the conglomerate's stock valued at $867,000 after acquiring an additional 7,221 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in ITT by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate's stock valued at $54,020,000 after purchasing an additional 28,937 shares in the last quarter. Empowered Funds LLC purchased a new stake in ITT during the 1st quarter worth approximately $360,000. Focus Partners Wealth raised its position in shares of ITT by 80.7% in the 1st quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate's stock valued at $1,017,000 after purchasing an additional 3,515 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of ITT in the 2nd quarter valued at approximately $1,880,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Trading Down 0.2%

ITT stock opened at $194.65 on Monday. The firm has a 50-day moving average price of $195.55 and a two-hundred day moving average price of $194.52. The firm has a market capitalization of $17.40 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 1.83 and a beta of 1.27. The company has a quick ratio of 1.01, a current ratio of 1.53 and a debt-to-equity ratio of 0.71. ITT Inc. has a 52-week low of $154.29 and a 52-week high of $225.26.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Wednesday, May 6th. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.77 by $0.21. ITT had a net margin of 10.80% and a return on equity of 16.83%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter last year, the company earned $1.45 EPS. ITT's quarterly revenue was up 32.7% on a year-over-year basis. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. Sell-side analysts expect that ITT Inc. will post 7.91 earnings per share for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 8th were given a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, June 8th. ITT's dividend payout ratio is 27.16%.

Insiders Place Their Bets

In other news, insider Lori B. Marino sold 7,123 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $208.27, for a total value of $1,483,507.21. Following the sale, the insider owned 8,729 shares of the company's stock, valued at approximately $1,817,988.83. The trade was a 44.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $208.41, for a total transaction of $41,682.00. Following the transaction, the chief accounting officer owned 7,859 shares of the company's stock, valued at approximately $1,637,894.19. This trade represents a 2.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen downgraded ITT from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Wolfe Research upgraded ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 price objective on the stock in a research note on Thursday. KeyCorp increased their target price on ITT from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. BMO Capital Markets assumed coverage on ITT in a research report on Friday, March 27th. They issued an "outperform" rating and a $233.00 target price for the company. Finally, Stifel Nicolaus set a $246.00 price target on ITT in a report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.42.

ITT Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.