Gabelli Funds LLC Buys 15,245 Shares of ITT Inc. $ITT

Key Points

• Gabelli Funds LLC increased its stake in ITT Inc. by 3.9% in the fourth quarter, buying 15,245 additional shares and bringing its total holding to 403,040 shares worth about $69.9 million.
• ITT reported strong quarterly results, with earnings of $1.98 per share and revenue of $1.21 billion, both ahead of Wall Street estimates. Revenue also rose 32.7% year over year.
• Analysts remain mostly positive on the stock, with 10 Buy ratings and 1 Hold; the consensus price target is $234.91. The company also announced a quarterly dividend of $0.386 per share, payable July 6.

Gabelli Funds LLC increased its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 403,040 shares of the conglomerate's stock after acquiring an additional 15,245 shares during the quarter. Gabelli Funds LLC owned approximately 0.47% of ITT worth $69,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ITT. Amundi boosted its stake in ITT by 22,565.6% during the first quarter. Amundi now owns 7,253 shares of the conglomerate's stock worth $867,000 after acquiring an additional 7,221 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in ITT by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate's stock worth $54,020,000 after acquiring an additional 28,937 shares in the last quarter. Empowered Funds LLC bought a new position in ITT during the first quarter worth $360,000. Focus Partners Wealth boosted its stake in ITT by 80.7% during the first quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate's stock worth $1,017,000 after acquiring an additional 3,515 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in ITT during the second quarter worth $1,880,000. 91.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

ITT has been the topic of several research analyst reports. KeyCorp increased their target price on shares of ITT from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Citigroup increased their target price on shares of ITT from $252.00 to $254.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. The Goldman Sachs Group started coverage on shares of ITT in a research note on Tuesday, March 31st. They set a "buy" rating and a $270.00 target price on the stock. Barclays raised their price objective 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. Finally, Wall Street Zen lowered shares of ITT from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $234.91.

ITT Stock Up 0.1%

ITT stock opened at $194.86 on Monday. ITT Inc. has a 1-year low of $145.41 and a 1-year high of $225.26. The firm has a market capitalization of $17.42 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 1.83 and a beta of 1.32. The firm's fifty day moving average price is $201.55 and its two-hundred day moving average price is $191.35. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.21. ITT had a net margin of 10.80% and a return on equity of 16.83%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm earned $1.45 earnings per share. The business'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, equities research analysts predict that ITT Inc. will post 7.91 earnings per share for the current fiscal year.

ITT Announces Dividend

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

Insider Activity

In other news, CAO Mesa Graziano Cheryl De sold 200 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the completion of the sale, the chief accounting officer owned 7,859 shares in the company, valued at $1,637,894.19. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Luca Savi sold 63,450 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $190.69, for a total transaction of $12,099,280.50. Following the completion of the sale, the chief executive officer owned 262,354 shares of the company's stock, valued at approximately $50,028,284.26. This represents a 19.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 70,773 shares of company stock worth $13,624,470 over the last quarter. Insiders own 0.88% of the company's stock.

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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