Border to Coast Pensions Partnership Ltd Takes $20.78 Million Position in ITT Inc. $ITT

Key Points

• Border to Coast Pensions Partnership Ltd opened a new position in ITT Inc. during the first quarter, buying 108,740 shares valued at about $20.8 million.
• ITT posted strong quarterly results, reporting EPS of $1.98 versus $1.77 expected and revenue of $1.21 billion, up 32.7% from a year earlier.
• The company announced a quarterly dividend of $0.386 per share, and analysts remain broadly positive with a consensus Moderate Buy rating and average price target of $234.91.

Border to Coast Pensions Partnership Ltd purchased a new stake in ITT Inc. (NYSE:ITT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 108,740 shares of the conglomerate's stock, valued at approximately $20,782,000. Border to Coast Pensions Partnership Ltd owned 0.12% of ITT as of its most recent filing with the SEC.

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

ITT Trading Down 3.4%

ITT opened at $193.20 on Friday. The firm has a market capitalization of $17.27 billion, a price-to-earnings ratio of 34.07, a price-to-earnings-growth ratio of 1.81 and a beta of 1.27. The company's 50 day simple moving average is $200.99 and its two-hundred day simple moving average is $193.24. ITT Inc. has a 1-year low of $154.29 and a 1-year high of $225.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.53 and a quick ratio of 1.01.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business earned $1.45 earnings per share. The business's 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. Analysts expect that ITT Inc. will post 7.91 EPS for the current fiscal year.

ITT Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on ITT shares. The Goldman Sachs Group started coverage on ITT in a report on Tuesday, March 31st. They set a "buy" rating and a $270.00 target price for the company. BMO Capital Markets assumed coverage on ITT in a research report on Friday, March 27th. They set an "outperform" rating and a $233.00 price target for the company. DA Davidson increased their price objective on ITT from $245.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Weiss Ratings lowered ITT from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Finally, Robert W. Baird set a $246.00 target price on shares of ITT in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $234.91.

Insiders Place Their Bets

In other news, CAO Mesa Graziano Cheryl De sold 200 shares of the business'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. The trade was a 2.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lori B. Marino sold 7,123 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $208.27, for a total transaction of $1,483,507.21. Following the completion of the sale, the insider directly owned 8,729 shares of the company's stock, valued at $1,817,988.83. This represents a 44.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is owned by company insiders.

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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