Global Retirement Partners LLC Makes New $997,000 Investment in ITT Inc. $ITT

Key Points

• Global Retirement Partners purchased 5,043 ITT shares worth approximately $997,000 in the second quarter. Institutional investors collectively own 91.59% of the company.
• ITT reported quarterly earnings of $2.08 per share, exceeding estimates by $0.16, while revenue rose 51.5% year over year to $1.47 billion.
• Analysts maintain a largely positive outlook, with 11 Buy ratings and one Hold, producing a “Moderate Buy” consensus and an average price target of $241.08. ITT also declared a quarterly dividend of $0.386 per share.

Global Retirement Partners LLC bought a new position in ITT Inc. (NYSE:ITT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,043 shares of the conglomerate's stock, valued at approximately $997,000.

A number of other institutional investors have also made changes to their positions in the company. Capital International Investors lifted its stake in ITT by 3.0% during the fourth quarter. Capital International Investors now owns 8,797,165 shares of the conglomerate's stock worth $1,526,421,000 after purchasing an additional 258,936 shares during the last quarter. Vanguard Group Inc. increased its stake in ITT by 7.9% during the fourth quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate's stock valued at $1,467,976,000 after purchasing an additional 620,217 shares during the last quarter. State Street Corp increased its stake in ITT by 7.4% during the fourth quarter. State Street Corp now owns 2,546,710 shares of the conglomerate's stock valued at $441,880,000 after purchasing an additional 175,367 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ITT by 15.6% during the fourth quarter. Geode Capital Management LLC now owns 1,614,929 shares of the conglomerate's stock worth $280,267,000 after purchasing an additional 217,360 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of ITT by 55,929.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate's stock worth $263,458,000 after purchasing an additional 1,515,695 shares during the period. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

Shares of ITT opened at $218.40 on Wednesday. The firm has a fifty day moving average of $197.59 and a 200-day moving average of $198.79. The company has a market cap of $19.52 billion, a price-to-earnings ratio of 42.82, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.26. ITT Inc. has a 1 year low of $164.00 and a 1 year high of $230.32.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $0.16. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.39 billion. ITT had a net margin of 8.90% and a return on equity of 15.90%. The company's revenue for the quarter was up 51.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. As a group, equities analysts anticipate that ITT Inc. will post 8.25 earnings per share for the current year.

ITT Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of ITT in a report on Friday, August 7th. 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. Stifel Nicolaus raised their target price on shares of ITT from $246.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Citigroup lifted their target price on ITT from $254.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, KeyCorp upped their target price on ITT from $250.00 to $263.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $241.08.

Insider Buying and Selling at ITT

In other news, CAO Mesa Graziano Cheryl De sold 700 shares of ITT stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $214.54, for a total transaction of $150,178.00. Following the sale, the chief accounting officer owned 7,159 shares of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Company insiders own 0.88% of the company's stock.

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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