ING Groep NV Purchases New Shares in ITT Inc. $ITT

Key Points

• ING Groep NV disclosed a new fourth-quarter stake in ITT Inc., buying 15,800 shares worth about $2.74 million.
• ITT’s latest quarterly results beat expectations, with EPS of $1.98 versus estimates of $1.77 and revenue of $1.21 billion, up 32.7% year over year.
• Analysts remain mostly positive on the stock: 10 Buy ratings and 1 Hold have produced a Moderate Buy consensus, with an average price target of $234.91.

ING Groep NV purchased a new stake in ITT Inc. (NYSE:ITT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,800 shares of the conglomerate's stock, valued at approximately $2,741,000.

Other institutional investors have also added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new stake in ITT in the 4th quarter valued at $29,000. Triumph Capital Management bought a new stake in ITT in the 3rd quarter valued at $37,000. Entrust Financial LLC bought a new stake in ITT in the 4th quarter valued at $36,000. Measured Wealth Private Client Group LLC bought a new stake in ITT in the 3rd quarter valued at $43,000. Finally, V Square Quantitative Management LLC bought a new stake in ITT in the 4th quarter valued at $64,000. 91.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ITT

In related news, insider Lori B. Marino sold 7,123 shares of ITT stock in a transaction on Friday, May 8th. The stock was sold at an average price of $208.27, for a total transaction of $1,483,507.21. Following the completion of the sale, the insider owned 8,729 shares of the company's stock, valued at approximately $1,817,988.83. This trade represents a 44.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mesa Graziano Cheryl De sold 200 shares of ITT stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $208.41, for a total value of $41,682.00. Following the sale, the chief accounting officer directly owned 7,859 shares of the company's stock, valued at approximately $1,637,894.19. This trade represents a 2.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ITT. The Goldman Sachs Group began coverage on ITT in a research report on Tuesday, March 31st. They set a "buy" rating and a $270.00 target price for the company. BMO Capital Markets began coverage on ITT in a research report on Friday, March 27th. They set an "outperform" rating and a $233.00 target price for the company. Weiss Ratings downgraded ITT from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. DA Davidson upped their target price on ITT from $245.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Finally, Barclays upped their target price on ITT from $210.00 to $230.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $234.91.

ITT Stock Up 0.7%

Shares of NYSE:ITT opened at $192.34 on Wednesday. ITT Inc. has a 52-week low of $149.02 and a 52-week high of $225.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.53. The business's 50 day simple moving average is $203.50 and its two-hundred day simple moving average is $192.25. The firm has a market cap of $17.20 billion, a P/E ratio of 33.92, a PEG ratio of 1.80 and a beta of 1.27.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results 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. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.12 billion. ITT had a return on equity of 16.83% and a net margin of 10.80%.The company's revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the company earned $1.45 earnings per share. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. As a group, research analysts forecast that ITT Inc. will post 7.9 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 8th will be given 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 payout ratio is 27.16%.

About ITT

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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