ITT Inc. $ITT Position Increased by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors increased its ITT stake by 17.1% in the second quarter to 44,405 shares valued at approximately $8.8 million. Institutional investors collectively own 91.59% of ITT.
• Analysts remain broadly positive, with 10 Buy ratings and one Hold rating, resulting in a “Moderate Buy” consensus and an average price target of $244.82.
• ITT exceeded quarterly expectations, reporting $2.08 in EPS and $1.47 billion in revenue, while revenue grew 51.5% year over year. The company also declared a quarterly dividend of $0.386 per share, implying a 0.8% annual yield.

Sequoia Financial Advisors LLC grew its holdings in ITT Inc. (NYSE:ITT - Free Report) by 17.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,405 shares of the conglomerate's stock after purchasing an additional 6,500 shares during the period. Sequoia Financial Advisors LLC's holdings in ITT were worth $8,782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in shares of ITT by 20,258.6% during the 2nd quarter. California State Teachers Retirement System now owns 20,565,458 shares of the conglomerate's stock worth $4,067,025,000 after purchasing an additional 20,464,442 shares during the last quarter. Capital International Investors lifted its position in shares of ITT by 3.0% during the 4th 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. BlackRock Inc. bought a new stake in shares of ITT in the second quarter valued at approximately $1,715,593,000. State Street Corp increased its position in ITT by 7.4% during the fourth quarter. State Street Corp now owns 2,546,710 shares of the conglomerate's stock worth $441,880,000 after acquiring an additional 175,367 shares during the period. Finally, Geode Capital Management LLC raised its stake in ITT by 15.6% during the 4th quarter. Geode Capital Management LLC now owns 1,614,929 shares of the conglomerate's stock valued at $280,267,000 after purchasing an additional 217,360 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ITT has been the subject of a number of research reports. DA Davidson increased 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. BMO Capital Markets reissued an "outperform" rating and set a $273.00 price objective on shares of ITT in a report on Friday, August 7th. Wolfe Research upgraded shares of ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 target price on the stock in a research report on Thursday, July 9th. KeyCorp boosted their target price on shares of ITT from $250.00 to $263.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Stifel Nicolaus upped their price objective on shares of ITT from $246.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Ten 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.82.

ITT Trading Down 0.9%

NYSE ITT opened at $196.42 on Friday. ITT Inc. has a 52 week low of $166.96 and a 52 week high of $230.32. The stock's 50 day moving average price is $201.33 and its two-hundred day moving average price is $199.51. The stock has a market capitalization of $17.56 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 1.62 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 (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, beating the consensus estimate of $1.92 by $0.16. ITT had a return on equity of 15.90% and a net margin of 8.90%.The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm posted $1.64 EPS. The firm's revenue for the quarter 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, analysts anticipate that ITT Inc. will post 8.25 earnings per share for the current fiscal year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.386 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. ITT's dividend payout ratio (DPR) is currently 30.20%.

Insiders Place Their Bets

In other ITT news, CAO Graziano De sold 700 shares of the business'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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Luca Savi purchased 5,019 shares of the stock in a transaction dated Monday, August 31st. The shares were bought at an average price of $199.56 per share, with a total value of $1,001,591.64. Following the completion of the acquisition, the chief executive officer directly owned 267,373 shares of the company's stock, valued at approximately $53,356,955.88. This represents a 1.91% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.88% of the stock is owned by company insiders.

About ITT

ITT Inc is a diversified industrial manufacturer that develops and produces highly engineered components and systems for transportation, energy, industrial, aerospace and defense, and other specialized markets. The company serves original equipment manufacturers, distributors and aftermarket customers through a portfolio of mission-critical products designed to support safety, efficiency and reliability.

ITT operates through three primary business segments. Motion Technologies supplies brake pads, friction materials, shock absorbers, dampers and related components for automotive and rail applications.

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