Engineers Gate Manager LP Has $75.81 Million Stock Position in ITT Inc. $ITT

Key Points

• Engineers Gate Manager LP dramatically increased its ITT stake by 2,444.6% in the fourth quarter, ending with 436,889 shares valued at about $75.8 million. The position made ITT the fund’s 9th-largest holding.
• ITT reported strong quarterly results, with EPS of $1.98 versus the $1.77 consensus and revenue of $1.21 billion, up 32.7% year over year. The company also raised FY2026 guidance to 7.7-8.0 EPS.
• Wall Street sentiment remains positive, with 10 Buy ratings and one Hold rating, giving ITT a “Moderate Buy” consensus and an average price target of $234.91. The stock was trading around $191.31, below that target.

Engineers Gate Manager LP raised its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 2,444.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 436,889 shares of the conglomerate's stock after purchasing an additional 419,720 shares during the quarter. ITT accounts for approximately 0.9% of Engineers Gate Manager LP's investment portfolio, making the stock its 9th largest holding. Engineers Gate Manager LP owned approximately 0.51% of ITT worth $75,805,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Balyasny Asset Management L.P. purchased a new position in ITT during the 4th quarter worth $8,235,000. Boothbay Fund Management LLC purchased a new position in ITT during the 4th quarter worth $532,000. Guggenheim Capital LLC purchased a new position in ITT during the 4th quarter worth $342,000. Caisse de depot et placement du Quebec purchased a new position in ITT during the 4th quarter worth $5,139,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in ITT during the 4th quarter worth $5,975,000. 91.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on ITT shares. The Goldman Sachs Group started coverage on ITT in a report on Tuesday, March 31st. They set a "buy" rating and a $270.00 price objective on the stock. DA Davidson raised their price objective on ITT from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Barclays raised their price objective on ITT from $210.00 to $230.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Robert W. Baird set a $246.00 price objective on shares of ITT in a research note on Thursday, May 7th. Finally, Stifel Nicolaus set a $246.00 price objective on shares of ITT in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $234.91.

ITT Trading Down 1.4%

Shares of NYSE:ITT opened at $191.31 on Thursday. The business's 50-day moving average is $203.39 and its 200 day moving average is $192.60. ITT Inc. has a 1 year low of $149.02 and a 1 year high of $225.26. The firm has a market capitalization of $17.10 billion, a P/E ratio of 33.74, a P/E/G ratio of 1.83 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.53 and a quick ratio of 1.01.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (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 company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company posted $1.45 EPS. The firm's quarterly revenue was up 32.7% compared to the same quarter last year. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. On average, research analysts predict that ITT Inc. will post 7.9 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, June 8th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. ITT's payout ratio is 27.16%.

Insiders Place Their Bets

In other news, CAO Mesa Graziano Cheryl De sold 200 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $208.41, for a total transaction of $41,682.00. Following the sale, the chief accounting officer directly owned 7,859 shares of the company's stock, valued at $1,637,894.19. The trade was a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lori B. Marino sold 7,123 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $208.27, for a total transaction of $1,483,507.21. Following the sale, the insider directly owned 8,729 shares in the company, valued at $1,817,988.83. This trade represents a 44.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.88% of the stock is owned by insiders.

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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