Assetmark Inc. Raises Holdings in ITT Inc. $ITT

Key Points

• Assetmark Inc. dramatically increased its stake in ITT Inc. by 6,323.9% in the first quarter, ending with 41,434 shares valued at about $7.9 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 91.59% of ITT’s stock; several other funds also modestly boosted their positions.
• Analysts are generally upbeat on ITT, with 11 Buy ratings and 1 Hold, a consensus rating of Moderate Buy, and an average price target of $234.75.

Assetmark Inc. raised its stake in ITT Inc. (NYSE:ITT - Free Report) by 6,323.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,434 shares of the conglomerate's stock after purchasing an additional 40,789 shares during the period. Assetmark Inc.'s holdings in ITT were worth $7,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Andina Capital Management LLC grew its position in shares of ITT by 1.6% during the fourth quarter. Andina Capital Management LLC now owns 3,166 shares of the conglomerate's stock worth $549,000 after buying an additional 49 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in ITT by 2.8% in the first quarter. Kestra Private Wealth Services LLC now owns 1,942 shares of the conglomerate's stock valued at $370,000 after acquiring an additional 52 shares in the last quarter. Whittier Trust Co. lifted its stake in ITT by 5.1% in the first quarter. Whittier Trust Co. now owns 1,064 shares of the conglomerate's stock worth $207,000 after acquiring an additional 52 shares during the last quarter. Toronto Dominion Bank increased its position in shares of ITT by 2.2% in the 4th quarter. Toronto Dominion Bank now owns 2,481 shares of the conglomerate's stock valued at $430,000 after purchasing an additional 53 shares during the last quarter. Finally, Stephens Inc. AR increased its position in shares of ITT by 3.8% in the 4th quarter. Stephens Inc. AR now owns 1,654 shares of the conglomerate's stock valued at $287,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ITT shares. Wall Street Zen cut shares of ITT from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. KeyCorp raised their price target on ITT from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Robert W. Baird set a $246.00 price objective on ITT in a research report on Thursday, May 7th. Citigroup increased their price objective on ITT from $252.00 to $254.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, DA Davidson raised their target price on ITT from $245.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $234.75.

ITT Price Performance

Shares of NYSE:ITT opened at $191.18 on Tuesday. ITT Inc. has a one year low of $155.58 and a one year high of $225.26. The stock has a market capitalization of $17.09 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 1.81 and a beta of 1.27. The company has a 50-day simple moving average of $193.49 and a 200-day simple moving average of $195.21. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.53.

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

ITT Dividend Announcement

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

Insider Buying and Selling

In other news, CAO Mesa Graziano Cheryl De sold 200 shares of the business's 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 of the company's stock, valued at approximately $1,637,894.19. The trade was a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lori B. Marino sold 7,123 shares of the company'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 sale, the insider owned 8,729 shares of the company's stock, valued at $1,817,988.83. This trade represents a 44.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.88% of the company's stock.

ITT 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.

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