Freestone Grove Partners LP Buys Shares of 76,153 ITT Inc. $ITT

Key Points

• Freestone Grove Partners bought 76,153 ITT shares worth approximately $15.1 million, giving it a 0.09% stake; institutional investors collectively own 91.59% of the company.
• ITT beat quarterly expectations with adjusted EPS of $2.08 versus $1.92 estimated and revenue of $1.47 billion, up 51.5% year over year. The company maintained fiscal 2026 EPS guidance of $8.12–$8.32.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $241.08, while ITT declared a quarterly dividend of $0.386 per share, representing a 0.7% annualized yield.

Freestone Grove Partners LP purchased a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 76,153 shares of the conglomerate's stock, valued at approximately $15,060,000. Freestone Grove Partners LP owned 0.09% of ITT at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in ITT during the second quarter worth $28,000. Elyxium Wealth LLC acquired a new stake in ITT in the fourth quarter valued at $29,000. Bayban purchased a new position in shares of ITT in the fourth quarter valued at $31,000. Trust Co. of Vermont acquired a new position in shares of ITT during the 2nd quarter worth $33,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of ITT by 62.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate's stock worth $34,000 after buying an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Trading Down 1.2%

Shares of ITT stock opened at $207.90 on Friday. ITT Inc. has a fifty-two week low of $166.96 and a fifty-two week high of $230.32. The business's fifty day moving average is $200.06 and its two-hundred day moving average is $199.68. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. The firm has a market cap of $18.59 billion, a PE ratio of 40.77, a P/E/G ratio of 1.72 and a beta of 1.27.

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

ITT Dividend Announcement

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

Insiders Place Their Bets

In other ITT news, CAO Mesa Graziano Cheryl De sold 700 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 7,159 shares in the company, valued at $1,535,891.86. The trade was a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ITT has been the subject of a number of research reports. Wolfe Research upgraded shares of ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 target price for the company in a research report on Thursday, July 9th. Wall Street Zen lowered ITT from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Stifel Nicolaus increased their target price on ITT from $246.00 to $250.00 and gave the company a "buy" rating in a report on Monday, July 20th. Robert W. Baird set a $246.00 price target on ITT in a report on Thursday, May 7th. Finally, Barclays increased their price objective on ITT from $210.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, ITT has a consensus rating of "Moderate Buy" and an average target price of $241.08.

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.

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