Element Capital Management LLC Invests $8.43 Million in ITT Inc. $ITT

Key Points

• Element Capital Management opened a new position in ITT Inc. during the fourth quarter, buying 48,558 shares worth about $8.43 million. The stake represents 4.0% of the fund’s holdings and about 0.06% of ITT.
• ITT’s latest quarterly results topped expectations, with EPS of $1.98 versus the $1.77 estimate and revenue of $1.21 billion, up 32.7% year over year. The company also maintained FY 2026 guidance of $7.70 to $8.00 EPS.
• Wall Street sentiment remains positive overall: analysts have an average Moderate Buy rating with a price target of $234.91. ITT also declared a quarterly dividend of $0.386 per share, payable July 6.

Element Capital Management LLC purchased a new position in ITT Inc. (NYSE:ITT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,558 shares of the conglomerate's stock, valued at approximately $8,425,000. ITT accounts for 4.0% of Element Capital Management LLC's holdings, making the stock its 10th biggest position. Element Capital Management LLC owned approximately 0.06% of ITT at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ITT. Amundi grew its stake in ITT by 22,565.6% in the first quarter. Amundi now owns 7,253 shares of the conglomerate's stock worth $867,000 after purchasing an additional 7,221 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in ITT by 7.4% in the first 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 in the last quarter. Empowered Funds LLC bought a new position in ITT in the first quarter worth approximately $360,000. Focus Partners Wealth grew its stake in ITT by 80.7% in the first quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate's stock worth $1,017,000 after purchasing an additional 3,515 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in ITT in the second quarter worth approximately $1,880,000. Institutional investors own 91.59% of the company's stock.

Insider Buying and Selling at ITT

In other news, insider Lori B. Marino sold 7,123 shares of the stock in a transaction on 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 owned 8,729 shares in the company, valued at approximately $1,817,988.83. This represents a 44.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 value of $41,682.00. Following the sale, the chief accounting officer owned 7,859 shares of the company's stock, valued at approximately $1,637,894.19. This represents a 2.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.88% of the company's stock.

ITT Stock Performance

Shares of ITT opened at $191.31 on Thursday. ITT Inc. has a 12 month low of $149.02 and a 12 month high of $225.26. The stock has a fifty day moving average price of $203.39 and a 200-day moving average price of $192.60. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a market cap of $17.10 billion, a PE ratio of 33.74, a P/E/G ratio of 1.83 and a beta of 1.27.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.77 by $0.21. ITT had a return on equity of 16.83% and a net margin of 10.80%.The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business posted $1.45 EPS. The business's revenue for the quarter 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 7.9 earnings per share for the current fiscal year.

ITT Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ITT. Citigroup increased their price objective on ITT from $252.00 to $254.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. DA Davidson increased their price objective on ITT from $245.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. BMO Capital Markets began coverage on ITT in a research note on Friday, March 27th. They issued an "outperform" rating and a $233.00 price objective on the stock. Wall Street Zen cut ITT from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group began coverage on ITT in a research note on Tuesday, March 31st. They issued a "buy" rating and a $270.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, ITT presently has an average rating of "Moderate Buy" and an average price target of $234.91.

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.

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.