Geode Capital Management LLC Has $280.27 Million Stock Holdings in ITT Inc. $ITT

Key Points

• Geode Capital Management increased its ITT stake by 15.6% in Q4, ending with 1.61 million shares valued at about $280.3 million, or roughly 1.88% of the company.
• ITT reported a strong latest quarter, posting $1.98 EPS versus $1.77 expected and $1.21 billion in revenue, both ahead of analyst forecasts, with revenue up 32.7% year over year.
• The company announced a quarterly dividend of $0.386 per share and continues to draw generally positive analyst sentiment, with ten Buy ratings and a consensus target price of $234.91.

Geode Capital Management LLC raised its stake in ITT Inc. (NYSE:ITT - Free Report) by 15.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,614,929 shares of the conglomerate's stock after acquiring an additional 217,360 shares during the period. Geode Capital Management LLC owned approximately 1.88% of ITT worth $280,267,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Elyxium Wealth LLC acquired a new stake in ITT during the fourth quarter worth about $29,000. Entrust Financial LLC acquired a new stake in ITT during the fourth quarter worth about $36,000. Triumph Capital Management acquired a new stake in ITT during the third quarter worth about $37,000. Measured Wealth Private Client Group LLC acquired a new stake in ITT during the third quarter worth about $43,000. Finally, Key Financial Inc acquired a new stake in ITT during the third quarter worth about $47,000. Institutional investors own 91.59% of the company's stock.

Insider Activity at ITT

In related news, CEO Luca Savi sold 63,450 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $190.69, for a total value of $12,099,280.50. Following the sale, the chief executive officer directly owned 262,354 shares in the company, valued at $50,028,284.26. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lori B. Marino sold 7,123 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $208.27, for a total value of $1,483,507.21. Following the completion of the sale, the insider owned 8,729 shares in the company, valued at $1,817,988.83. The trade was a 44.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 70,773 shares of company stock worth $13,624,470 over the last ninety days. Insiders own 0.88% of the company's stock.

ITT Price Performance

ITT stock opened at $189.81 on Tuesday. The stock's 50 day moving average is $202.99 and its 200 day moving average is $191.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.53 and a quick ratio of 1.01. The firm has a market cap of $16.97 billion, a P/E ratio of 33.48, a P/E/G ratio of 1.83 and a beta of 1.27. ITT Inc. has a one year low of $147.63 and a one year high of $225.26.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results 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 business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the business posted $1.45 earnings per share. The firm's revenue was up 32.7% on a year-over-year basis. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. As a group, research analysts expect that ITT Inc. will post 7.9 EPS for the current year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors 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 yield of 0.8%. ITT's dividend payout ratio is presently 27.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. KeyCorp increased their price objective 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. Wall Street Zen downgraded shares of ITT from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Citigroup boosted their price target on ITT from $252.00 to $254.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. DA Davidson boosted their price target on ITT from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Finally, Stifel Nicolaus set a $246.00 price target on ITT in a report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, ITT has an average rating of "Moderate Buy" and a consensus target price 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.

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