Ceredex Value Advisors LLC Invests $47.29 Million in ITT Inc. $ITT

Key Points

• Ceredex Value Advisors acquired 239,143 ITT shares worth approximately $47.3 million, making ITT its seventh-largest holding and representing 1.3% of its portfolio. Institutional investors collectively own 91.59% of the company.
• ITT exceeded quarterly expectations, reporting $2.08 in earnings per share versus the $1.92 consensus estimate and $1.47 billion in revenue. Revenue increased 51.5% year over year, while full-year 2026 guidance is $8.12–$8.32 EPS.
• Analysts maintain a largely positive outlook, with 11 Buy ratings and one Hold rating and a consensus price target of $241.08. ITT also declared a quarterly dividend of $0.386 per share, equivalent to a 0.7% annual yield.

Ceredex Value Advisors LLC acquired a new stake in ITT Inc. (NYSE:ITT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 239,143 shares of the conglomerate's stock, valued at approximately $47,293,000. ITT makes up 1.3% of Ceredex Value Advisors LLC's portfolio, making the stock its 7th biggest holding. Ceredex Value Advisors LLC owned 0.27% of ITT at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in ITT in the second quarter valued at $1,715,593,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of ITT by 55,929.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate's stock valued at $263,458,000 after buying an additional 1,515,695 shares during the period. Norges Bank acquired a new stake in shares of ITT in the 4th quarter valued at about $194,884,000. Vanguard Group Inc. increased its position in ITT by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate's stock valued at $1,467,976,000 after buying an additional 620,217 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in ITT during the 2nd quarter worth approximately $119,853,000. 91.59% of the stock is owned by institutional investors.

ITT Price Performance

ITT stock opened at $208.58 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.26. The business has a 50-day simple moving average of $198.63 and a two-hundred day simple moving average of $199.18. The company has a market capitalization of $18.65 billion, a P/E ratio of 40.90, a price-to-earnings-growth ratio of 1.75 and a beta of 1.27. ITT Inc. has a 52-week low of $164.00 and a 52-week high of $230.32.

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

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Tuesday, September 8th will be given a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 8th. ITT's dividend payout ratio is presently 30.20%.

Insiders Place Their Bets

In other ITT news, CAO Mesa Graziano Cheryl De sold 700 shares of ITT stock in a transaction on Friday, August 7th. The shares were sold at an average price of $214.54, for a total transaction of $150,178.00. Following the transaction, the chief accounting officer directly owned 7,159 shares of the company's stock, valued at $1,535,891.86. The trade was a 8.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BMO Capital Markets reissued an "outperform" rating and issued a $273.00 price objective on shares of ITT in a research note on Friday, August 7th. Wall Street Zen lowered ITT from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. DA Davidson increased their target price on ITT from $255.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Wolfe Research raised shares of ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 price target for the company in a research report on Thursday, July 9th. Finally, Barclays boosted their price target 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. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, ITT has an average rating of "Moderate Buy" and a consensus price target of $241.08.

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.

Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source