Bank of Nova Scotia cut its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 65.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,658 shares of the conglomerate's stock after selling 49,923 shares during the quarter. Bank of Nova Scotia's holdings in ITT were worth $5,079,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in ITT. Sei Investments Co. grew its position in ITT by 15.1% during the 1st quarter. Sei Investments Co. now owns 114,867 shares of the conglomerate's stock worth $21,883,000 after acquiring an additional 15,090 shares during the last quarter. Lido Advisors LLC bought a new stake in shares of ITT during the first quarter worth about $294,000. Cetera Investment Advisers increased its stake in shares of ITT by 3.1% in the first quarter. Cetera Investment Advisers now owns 10,802 shares of the conglomerate's stock valued at $2,058,000 after buying an additional 328 shares during the period. Meeder Advisory Services Inc. bought a new position in ITT in the 1st quarter valued at approximately $201,000. Finally, Parallel Advisors LLC raised its holdings in ITT by 31.4% in the 1st quarter. Parallel Advisors LLC now owns 958 shares of the conglomerate's stock valued at $183,000 after buying an additional 229 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at ITT
In other ITT 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 owned 8,729 shares in the company, valued at approximately $1,817,988.83. The trade was a 44.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $208.41, for a total transaction of $41,682.00. Following the sale, the chief accounting officer directly owned 7,859 shares of the company's stock, valued at $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. Company insiders own 0.88% of the company's stock.
ITT Trading Up 0.8%
NYSE ITT opened at $197.50 on Tuesday. The business's fifty day moving average is $192.92 and its 200-day moving average is $195.87. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.53 and a quick ratio of 1.01. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 1.84 and a beta of 1.27. ITT Inc. has a one year low of $157.66 and a one year high of $225.26.
ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.21. ITT had a return on equity of 16.83% and a net margin of 10.80%.The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the business posted $1.45 EPS. The firm's quarterly revenue was up 32.7% compared to the same quarter last year. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. Equities research analysts predict that ITT Inc. will post 7.89 EPS for the current year.
ITT Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 8th were issued a $0.386 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. ITT's dividend payout ratio is presently 27.16%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ITT. Robert W. Baird set a $246.00 price objective on ITT in a research report on Thursday, May 7th. The Goldman Sachs Group started coverage on shares of ITT in a research report on Tuesday, March 31st. They set a "buy" rating and a $270.00 target price for the company. DA Davidson raised their price target on shares of ITT from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of ITT from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Stifel Nicolaus upped their price objective on shares of ITT from $246.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.75.
View Our Latest Stock Analysis on ITT
ITT Profile
(
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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