ITT Inc. $ITT Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its ITT stake by 87.7% in the third quarter, selling 7,520 shares and retaining 1,059 shares valued at approximately $214,000. Institutional investors overall own 91.59% of ITT.
• Analysts remain broadly positive, with eight Buy ratings and one Hold rating. ITT has an average price target of $259.56, compared with its reported share price of $198.50.
• ITT exceeded quarterly expectations, reporting $2.08 in earnings per share and $1.47 billion in revenue, while revenue grew 51.5% year over year. The company also announced a quarterly dividend of $0.386 per share, representing an annualized yield of about 0.8%.

Curated Wealth Partners LLC lowered its stake in ITT Inc. (NYSE:ITT - Free Report) by 87.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,059 shares of the conglomerate's stock after selling 7,520 shares during the period. Curated Wealth Partners LLC's holdings in ITT were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Oppenheimer Asset Management Inc. bought a new position in ITT during the second quarter worth $2,285,000. Diversified Trust Co acquired a new position in ITT in the first quarter worth $2,478,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in ITT during the second quarter valued at $4,145,000. Allspring Global Investments Holdings LLC increased its stake in ITT by 15.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 110,200 shares of the conglomerate's stock valued at $21,264,000 after purchasing an additional 15,004 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in ITT during the second quarter valued at $173,436,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Insider Transactions at ITT

In related news, CEO Luca Savi purchased 5,019 shares of the company's stock in a transaction on Monday, August 31st. The shares were bought at an average cost of $199.56 per share, for a total transaction of $1,001,591.64. Following the transaction, the chief executive officer owned 267,373 shares of the company's stock, valued at $53,356,955.88. This represents a 1.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Graziano De sold 700 shares of the company's stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 7,159 shares of the company's stock, valued at approximately $1,535,891.86. This represents a 8.91% 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.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ITT. Citigroup increased their target price on shares of ITT from $254.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, August 7th. KeyCorp boosted their price objective on shares of ITT from $250.00 to $263.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. BMO Capital Markets reiterated an "outperform" rating and set a $273.00 price objective on shares of ITT in a research note on Friday, August 7th. Wolfe Research began coverage on shares of ITT in a research note on Tuesday, September 15th. They set an "outperform" rating and a $272.00 price objective on the stock. Finally, DA Davidson raised their target price on shares of ITT from $255.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $259.56.

ITT Stock Up 0.0%

ITT opened at $198.50 on Monday. The stock's 50 day moving average price is $205.48 and its 200 day moving average price is $201.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.26 and a quick ratio of 0.85. The stock has a market cap of $17.75 billion, a P/E ratio of 38.92, a P/E/G ratio of 1.62 and a beta of 1.25. ITT Inc. has a 12 month low of $166.96 and a 12 month high of $230.32.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, beating 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 company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $1.64 earnings per share. The company'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, research analysts predict that ITT Inc. will post 8.25 earnings per share for the current year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Tuesday, September 8th were given a $0.3860 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, September 8th. ITT's dividend payout ratio is currently 30.20%.

ITT Company Profile

ITT Inc NYSE: ITT is a global industrial manufacturer that designs and produces highly engineered components and technology solutions for transportation, industrial, energy, aerospace, defense and other specialized markets. The company serves original equipment manufacturers, distributors and end users through operations in North America, Europe, Asia and other international markets.

ITT operates through three primary business segments. Motion Technologies develops brake pads, shock absorbers, sealing products and other engineered components used in automotive, rail and related transportation applications.

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