Engineers Gate Manager LP Acquires 62,371 Shares of ITT Inc. $ITT

Key Points

• Engineers Gate Manager LP increased its ITT holdings by 19.3% in the second quarter, purchasing 62,371 shares to own 385,727 shares worth approximately $76.3 million. Institutional investors collectively hold 91.59% of ITT’s outstanding stock.
• Wall Street sentiment is favorable: ten analysts rate ITT a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $244.82 versus the reported share price of $201.48.
• ITT exceeded quarterly expectations with adjusted earnings of $2.08 per share and revenue of $1.47 billion, while revenue rose 51.5% year over year. The company also announced a quarterly dividend of $0.386 per share, representing an annualized yield of about 0.8%.

Engineers Gate Manager LP boosted its holdings in ITT Inc. (NYSE:ITT - Free Report) by 19.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 385,727 shares of the conglomerate's stock after purchasing an additional 62,371 shares during the quarter. ITT accounts for about 1.0% of Engineers Gate Manager LP's portfolio, making the stock its 6th largest holding. Engineers Gate Manager LP owned approximately 0.43% of ITT worth $76,281,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. California State Teachers Retirement System boosted its stake in shares of ITT by 20,258.6% in the second quarter. California State Teachers Retirement System now owns 20,565,458 shares of the conglomerate's stock valued at $4,067,025,000 after buying an additional 20,464,442 shares during the period. Capital International Investors increased its stake in ITT by 3.0% during the 4th quarter. Capital International Investors now owns 8,797,165 shares of the conglomerate's stock worth $1,526,421,000 after acquiring an additional 258,936 shares during the period. BlackRock Inc. acquired a new position in ITT in the 2nd quarter valued at $1,715,593,000. State Street Corp raised its holdings in ITT by 7.4% in the 4th quarter. State Street Corp now owns 2,546,710 shares of the conglomerate's stock valued at $441,880,000 after acquiring an additional 175,367 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of ITT by 15.6% during the 4th quarter. Geode Capital Management LLC now owns 1,614,929 shares of the conglomerate's stock valued at $280,267,000 after acquiring an additional 217,360 shares during the period. Institutional investors own 91.59% of the company's stock.

Insider Buying and Selling

In other news, CAO Graziano De sold 700 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $214.54, for a total value of $150,178.00. Following the completion of the transaction, the chief accounting officer directly owned 7,159 shares in the company, valued at approximately $1,535,891.86. This represents a 8.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Luca Savi acquired 5,019 shares of the business's stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average cost of $199.56 per share, for a total transaction of $1,001,591.64. Following the acquisition, the chief executive officer owned 267,373 shares in the company, valued at $53,356,955.88. This represents a 1.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ITT shares. Wolfe Research upgraded ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 price target on the stock in a research report on Thursday, July 9th. Stifel Nicolaus upped their price objective on shares of ITT from $246.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. DA Davidson increased their price objective on shares of ITT from $255.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. KeyCorp raised their target price on shares of ITT from $250.00 to $263.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of ITT from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $244.82.

ITT Stock Performance

NYSE:ITT opened at $201.48 on Wednesday. The stock's 50-day simple moving average is $200.96 and its 200 day simple moving average is $199.62. The firm has a market capitalization of $18.01 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 1.67 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. ITT Inc. has a twelve month low of $166.96 and a twelve month high of $230.32.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results 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 business's quarterly revenue was up 51.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. On average, analysts anticipate that ITT Inc. will post 8.25 EPS for the current fiscal year.

ITT Dividend Announcement

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

ITT Company 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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