Bowen Hanes & Co. Inc. Purchases New Shares in ITT Inc. $ITT

Key Points

• Bowen Hanes & Co. Inc. disclosed a new fourth-quarter position in ITT, buying 213,000 shares worth about $36.96 million and ending with roughly 0.25% ownership.
• ITT reported strong quarterly results, with EPS of $1.98 beating estimates and revenue of $1.21 billion topping expectations; revenue also rose 32.7% year over year.
• The company announced a quarterly dividend of $0.386 per share, while analysts remain mostly positive with a consensus rating of Moderate Buy and an average price target of $234.91.

Bowen Hanes & Co. Inc. purchased a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 213,000 shares of the conglomerate's stock, valued at approximately $36,958,000. Bowen Hanes & Co. Inc. owned 0.25% of ITT at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ITT. Amundi lifted its holdings in ITT by 22,565.6% in the 1st quarter. Amundi now owns 7,253 shares of the conglomerate's stock worth $867,000 after buying an additional 7,221 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in ITT by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate's stock worth $54,020,000 after buying an additional 28,937 shares in the last quarter. Empowered Funds LLC acquired a new position in ITT in the 1st quarter worth $360,000. Focus Partners Wealth lifted its holdings in ITT by 80.7% in the 1st quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate's stock worth $1,017,000 after buying an additional 3,515 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in ITT in the 2nd quarter worth $1,880,000. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Trading Up 0.1%

ITT stock opened at $194.30 on Thursday. The firm's 50-day moving average is $203.33 and its 200-day moving average is $192.00. 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 Inc. has a 1 year low of $149.02 and a 1 year high of $225.26. The company has a market cap of $17.37 billion, a P/E ratio of 34.27, a PEG ratio of 1.83 and a beta of 1.27.

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, topping analysts' consensus estimates of $1.77 by $0.21. ITT had a net margin of 10.80% and a return on equity of 16.83%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the firm posted $1.45 EPS. The company's revenue for the quarter was up 32.7% on a year-over-year basis. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. On average, equities analysts expect that ITT Inc. will post 7.9 earnings per share for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 8th will be given a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, June 8th. ITT's dividend payout ratio (DPR) is presently 27.16%.

Insider Transactions at ITT

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on ITT shares. Wall Street Zen lowered shares of ITT from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Barclays increased their price objective on shares of ITT from $210.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. KeyCorp raised their price objective on shares of ITT from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Robert W. Baird set a $246.00 price objective on shares of ITT in a report on Thursday, May 7th. Finally, The Goldman Sachs Group assumed coverage on shares of ITT in a report on Tuesday, March 31st. They set a "buy" rating and a $270.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, ITT currently has an average rating of "Moderate Buy" and a consensus price target of $234.91.

About ITT

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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