Ieq Capital LLC Invests $6.91 Million in ITT Inc. $ITT

Key Points

• Ieq Capital purchased a new $6.91 million stake in ITT, acquiring 34,958 shares during the second quarter. Institutional investors collectively own 91.59% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $241.08; ten analysts rate the stock Buy while two recommend Hold.
• ITT exceeded quarterly expectations with adjusted earnings of $2.08 per share and revenue of $1.47 billion, while announcing a quarterly dividend of $0.386 per share, equal to a 0.7% annual yield.

Ieq Capital LLC purchased a new stake in ITT Inc. (NYSE:ITT - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 34,958 shares of the conglomerate's stock, valued at approximately $6,913,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of ITT in the 2nd quarter worth about $28,000. Elyxium Wealth LLC bought a new stake in ITT during the fourth quarter worth about $29,000. Bayban acquired a new stake in shares of ITT during the fourth quarter worth approximately $31,000. Trust Co. of Vermont acquired a new position in shares of ITT in the 2nd quarter worth approximately $33,000. Finally, Parkside Financial Bank & Trust grew its position in ITT by 62.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate's stock worth $34,000 after acquiring an additional 76 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ITT. Robert W. Baird set a $246.00 price objective on ITT in a research note on Thursday, May 7th. BMO Capital Markets restated an "outperform" rating and issued a $273.00 price objective on shares of ITT in a research report on Friday, August 7th. KeyCorp upped their target price on shares of ITT from $250.00 to $263.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. DA Davidson raised their price target on shares of ITT from $255.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings downgraded ITT from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $241.08.

Insider Activity

In other news, CAO Mesa Graziano Cheryl De sold 700 shares of the firm's stock in a transaction dated 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 $1,535,891.86. This trade represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.88% of the stock is owned by company insiders.

ITT Stock Performance

Shares of ITT stock opened at $208.23 on Monday. The firm has a fifty day moving average of $199.02 and a two-hundred day moving average of $199.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.26. The stock has a market capitalization of $18.62 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 1.70 and a beta of 1.27. ITT Inc. has a 52 week low of $165.82 and a 52 week high of $230.32.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.92 by $0.16. ITT had a return on equity of 15.90% and a net margin of 8.90%.The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. The firm'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. As a group, equities research analysts predict that ITT Inc. will post 8.25 EPS for the current year.

ITT Dividend Announcement

The firm also recently announced 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. This represents a $1.54 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 8th. ITT's payout ratio is presently 30.20%.

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.

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.