Amundi Buys 222,204 Shares of ITT Inc. $ITT

Key Points

• Amundi increased its ITT stake by 1,215.2% in the first quarter, buying 222,204 additional shares to own 240,490 shares valued at approximately $45.8 million. Institutional investors and hedge funds collectively hold 91.59% of ITT’s outstanding stock.
• Analysts maintain a broadly positive view, with 11 Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $234.75, above ITT’s recent $195.59 share price.
• ITT beat quarterly earnings expectations, reporting $1.98 in EPS versus the $1.77 consensus and $1.21 billion in revenue, up 32.7% year over year. The company also pays a quarterly dividend of $0.386 per share, equivalent to an annualized yield of approximately 0.8%.

Amundi grew its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 1,215.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 240,490 shares of the conglomerate's stock after acquiring an additional 222,204 shares during the quarter. Amundi owned about 0.27% of ITT worth $45,821,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Diversified Trust Co purchased a new position in shares of ITT in the 1st quarter worth approximately $2,478,000. TimesSquare Capital Management LLC increased its position in shares of ITT by 10.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 226,700 shares of the conglomerate's stock valued at $39,335,000 after acquiring an additional 21,200 shares during the last quarter. Payden & Rygel lifted its holdings in ITT by 34.7% during the fourth quarter. Payden & Rygel now owns 112,500 shares of the conglomerate's stock worth $19,520,000 after acquiring an additional 29,000 shares during the period. Allspring Global Investments Holdings LLC boosted its position in ITT by 15.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 110,200 shares of the conglomerate's stock worth $21,264,000 after purchasing an additional 15,004 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 217,360 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Lori B. Marino sold 7,123 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 8,729 shares in the company, valued at $1,817,988.83. The trade was a 44.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mesa Graziano Cheryl De sold 200 shares of ITT stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $208.41, for a total value of $41,682.00. Following the transaction, the chief accounting officer owned 7,859 shares in the company, valued at approximately $1,637,894.19. The trade was a 2.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wolfe Research upgraded shares of ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 price target on the stock in a research note on Thursday, July 9th. Weiss Ratings cut ITT from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Barclays raised their target price on ITT from $210.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Stifel Nicolaus increased their price target on shares of ITT from $246.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Finally, Robert W. Baird set a $246.00 price objective on shares of ITT in a research note on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $234.75.

ITT Trading Down 0.2%

NYSE ITT opened at $195.59 on Monday. ITT Inc. has a 12 month low of $157.66 and a 12 month high of $225.26. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock's fifty day moving average price is $193.07 and its 200-day moving average price is $196.26. The stock has a market cap of $17.49 billion, a P/E ratio of 34.50, a P/E/G ratio of 1.85 and a beta of 1.27.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share 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 during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the company earned $1.45 earnings per share. The firm'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. As a group, equities analysts forecast that ITT Inc. will post 7.89 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 8th were issued a dividend of $0.386 per share. The ex-dividend date was Monday, June 8th. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. ITT's dividend payout ratio (DPR) is presently 27.16%.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source