ITT Inc. $ITT Shares Purchased by Payden & Rygel

Key Points

• Payden & Rygel increased its ITT stake by 34.7% in the fourth quarter, buying 29,000 additional shares and bringing its total to 112,500 shares valued at about $19.5 million.
• Wall Street remains broadly positive on ITT, with 10 Buy ratings and 1 Hold rating; the consensus view is “Moderate Buy” and the average price target is $234.91.
• ITT reported strong quarterly results, topping earnings and revenue estimates, and it also announced a quarterly dividend of $0.386 per share, payable July 6.

Payden & Rygel lifted its position in ITT Inc. (NYSE:ITT - Free Report) by 34.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,500 shares of the conglomerate's stock after purchasing an additional 29,000 shares during the quarter. ITT makes up 1.3% of Payden & Rygel's investment portfolio, making the stock its 24th biggest holding. Payden & Rygel owned about 0.13% of ITT worth $19,520,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital International Investors boosted its stake in ITT by 0.5% during the 3rd quarter. Capital International Investors now owns 8,538,229 shares of the conglomerate's stock worth $1,526,281,000 after purchasing an additional 38,433 shares during the period. Vanguard Group Inc. boosted its stake in ITT by 7.9% during the 4th quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate's stock worth $1,467,976,000 after purchasing an additional 620,217 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in ITT by 55,929.7% during the 4th 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. Alliancebernstein L.P. boosted its stake in ITT by 11.2% during the 3rd quarter. Alliancebernstein L.P. now owns 1,188,219 shares of the conglomerate's stock worth $212,406,000 after purchasing an additional 119,601 shares during the period. Finally, Invesco Ltd. boosted its stake in ITT by 3.1% during the 3rd quarter. Invesco Ltd. now owns 1,128,933 shares of the conglomerate's stock worth $201,808,000 after purchasing an additional 34,183 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ITT shares. Barclays increased their price target on shares of ITT from $210.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Citigroup increased their price objective on ITT from $252.00 to $254.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Wall Street Zen cut ITT from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. BMO Capital Markets started coverage on ITT in a research report on Friday, March 27th. They set an "outperform" rating and a $233.00 price objective for the company. Finally, KeyCorp increased their price objective on ITT from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $234.91.

Insider Buying and Selling

In related news, CEO Luca Savi sold 63,450 shares of ITT stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $190.69, for a total transaction of $12,099,280.50. Following the completion of the transaction, the chief executive officer directly owned 262,354 shares of the company's stock, valued at approximately $50,028,284.26. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Mesa Graziano Cheryl De sold 200 shares of ITT stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $208.41, for a total value of $41,682.00. Following the transaction, the chief accounting officer directly owned 7,859 shares of the company's stock, valued at approximately $1,637,894.19. This represents a 2.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 70,773 shares of company stock valued at $13,624,470. 0.88% of the stock is owned by insiders.

ITT Stock Up 0.2%

ITT stock opened at $194.95 on Tuesday. The company has a market cap of $17.43 billion, a P/E ratio of 34.38, a P/E/G ratio of 1.83 and a beta of 1.32. ITT Inc. has a 52 week low of $145.41 and a 52 week high of $225.26. The company's 50-day moving average price is $201.64 and its 200 day moving average price is $191.48. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

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, topping analysts' consensus estimates of $1.77 by $0.21. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.12 billion. ITT had a net margin of 10.80% and a return on equity of 16.83%. The firm's revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 earnings per share. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. On average, research analysts expect that ITT Inc. will post 7.91 earnings per share for the current fiscal year.

ITT Announces Dividend

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

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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