California State Teachers Retirement System Buys 20,464,442 Shares of ITT Inc. $ITT

California State Teachers Retirement System raised its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 20,258.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,565,458 shares of the conglomerate's stock after buying an additional 20,464,442 shares during the quarter. California State Teachers Retirement System owned about 23.00% of ITT worth $4,067,025,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of ITT in the second quarter valued at approximately $1,715,593,000. Northwestern Mutual Wealth Management Co. increased its holdings in ITT by 55,929.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate's stock worth $263,458,000 after acquiring an additional 1,515,695 shares during the period. Findlay Park Partners LLP bought a new stake in ITT during the 2nd quarter worth approximately $276,395,000. Norges Bank purchased a new stake in ITT in the 4th quarter worth approximately $194,884,000. Finally, Bank of America Corp DE purchased a new stake in ITT in the 2nd quarter worth approximately $173,436,000. 91.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on ITT shares. DA Davidson boosted their price target on shares of ITT from $255.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Wolfe Research upgraded ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 price objective on the stock in a research report on Thursday, July 9th. Stifel Nicolaus lifted their price objective on ITT from $246.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Citigroup lifted their price objective on ITT from $254.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, KeyCorp boosted their target price on ITT from $250.00 to $263.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $244.82.

Insiders Place Their Bets

In other ITT news, CAO Graziano De sold 700 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $214.54, for a total transaction of $150,178.00. Following the sale, the chief accounting officer owned 7,159 shares in the company, valued at $1,535,891.86. This trade represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Luca Savi purchased 5,019 shares of the company's stock in a transaction on Monday, August 31st. The shares were purchased at an average cost of $199.56 per share, with a total value of $1,001,591.64. Following the purchase, the chief executive officer owned 267,373 shares of the company's stock, valued at approximately $53,356,955.88. The trade was a 1.91% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.88% of the stock is owned by corporate insiders.

ITT Trading Down 0.9%

Shares of ITT stock opened at $196.42 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.26 and a quick ratio of 0.85. ITT Inc. has a 1 year low of $166.96 and a 1 year high of $230.32. The firm has a market cap of $17.56 billion, a PE ratio of 38.51, a PEG ratio of 1.62 and a beta of 1.27. The company has a 50 day simple moving average of $201.33 and a two-hundred day simple moving average of $199.51.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.92 by $0.16. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.39 billion. ITT had a net margin of 8.90% and a return on equity of 15.90%. The business's revenue for the quarter was up 51.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 EPS. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Analysts expect that ITT Inc. will post 8.25 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Tuesday, September 8th will be paid a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 8th. ITT's dividend payout ratio is currently 30.20%.

ITT Company Profile

ITT Inc is a diversified industrial manufacturer that develops and produces highly engineered components and systems for transportation, energy, industrial, aerospace and defense, and other specialized markets. The company serves original equipment manufacturers, distributors and aftermarket customers through a portfolio of mission-critical products designed to support safety, efficiency and reliability.

ITT operates through three primary business segments. Motion Technologies supplies brake pads, friction materials, shock absorbers, dampers and related components for automotive and rail applications.

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