ITT Inc. $ITT Shares Acquired by Bowen Hanes & Co. Inc.

Key Points

• Bowen Hanes & Co. increased its ITT stake by 24.7% in the first quarter, adding 52,710 shares and bringing its holdings to 265,710 shares valued at about $50.6 million.
• ITT reported strong quarterly results, with EPS of $1.98 beating estimates and revenue of $1.21 billion topping expectations. Revenue rose 32.7% year over year, and the company reiterated full-year guidance of 7.700-8.000 EPS for FY 2026.
• Analyst sentiment remains positive, with 11 analysts rating the stock a Buy and only one Hold, giving ITT a consensus “Moderate Buy” and an average price target of $234.75.

Bowen Hanes & Co. Inc. lifted its position in ITT Inc. (NYSE:ITT - Free Report) by 24.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 265,710 shares of the conglomerate's stock after purchasing an additional 52,710 shares during the quarter. Bowen Hanes & Co. Inc. owned about 0.30% of ITT worth $50,626,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ITT. Amundi lifted its stake in ITT by 22,565.6% during the 1st quarter. Amundi now owns 7,253 shares of the conglomerate's stock valued at $867,000 after acquiring an additional 7,221 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of ITT by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate's stock worth $54,020,000 after acquiring an additional 28,937 shares during the period. Empowered Funds LLC purchased a new position in shares of ITT during the first quarter worth $360,000. Focus Partners Wealth raised its holdings in shares of ITT by 80.7% during the first quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate's stock worth $1,017,000 after purchasing an additional 3,515 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of ITT in the 2nd quarter valued at about $1,880,000. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Stock Up 1.2%

Shares of NYSE ITT opened at $195.30 on Friday. The company has a market capitalization of $17.46 billion, a P/E ratio of 34.44, a P/E/G ratio of 1.82 and a beta of 1.27. 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 company has a 50 day simple moving average of $192.85 and a 200-day simple moving average of $195.63. ITT Inc. has a 1 year low of $157.66 and a 1 year high of $225.26.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The conglomerate reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.21. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.12 billion. ITT had a return on equity of 16.83% and a net margin of 10.80%.The firm's quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 earnings per share. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. On average, equities research analysts predict that ITT Inc. will post 7.89 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 8th were issued a dividend of $0.386 per share. The ex-dividend date was Monday, June 8th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. ITT's dividend payout ratio is currently 27.16%.

Insiders Place Their Bets

In related news, CAO Mesa Graziano Cheryl De sold 200 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $208.41, for a total transaction of $41,682.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lori B. Marino sold 7,123 shares of the business's stock in a transaction dated Friday, May 8th. The shares were 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 in the company, valued at approximately $1,817,988.83. This trade represents a 44.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ITT shares. Weiss Ratings downgraded shares of ITT from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Wolfe Research raised ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 price target on the stock in a research note on Thursday, July 9th. KeyCorp raised their price objective on ITT from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Robert W. Baird set a $246.00 target price on shares of ITT in a report on Thursday, May 7th. Finally, Barclays increased their target price on shares of ITT from $210.00 to $230.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $234.75.

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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