ITT Inc. $ITT Shares Sold by SIR Capital Management L.P.

Key Points

• SIR Capital Management cut its ITT stake by 57.1% in the fourth quarter, selling 16,948 shares and leaving it with 12,752 shares valued at about $2.21 million.
• Wall Street sentiment remains constructive: 10 analysts rate ITT a Buy and one a Hold, with an average price target of $234.91 after recent target increases from firms including Barclays and DA Davidson.
• ITT reported better-than-expected Q1 results, earning $1.98 per share on revenue of $1.21 billion, while also announcing a quarterly dividend of $0.386 per share payable July 6.

SIR Capital Management L.P. lowered its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 57.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,752 shares of the conglomerate's stock after selling 16,948 shares during the period. SIR Capital Management L.P.'s holdings in ITT were worth $2,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITT. Andina Capital Management LLC grew its holdings in shares of ITT by 1.6% during the fourth quarter. Andina Capital Management LLC now owns 3,166 shares of the conglomerate's stock worth $549,000 after buying an additional 49 shares in the last quarter. Assetmark Inc. grew its holdings in shares of ITT by 10.9% during the third quarter. Assetmark Inc. now owns 558 shares of the conglomerate's stock worth $100,000 after buying an additional 55 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of ITT by 3.8% during the fourth quarter. Stephens Inc. AR now owns 1,654 shares of the conglomerate's stock worth $287,000 after buying an additional 60 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of ITT by 0.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 24,917 shares of the conglomerate's stock worth $4,454,000 after buying an additional 65 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in shares of ITT by 1.5% during the third quarter. Merit Financial Group LLC now owns 4,725 shares of the conglomerate's stock worth $845,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ITT shares. Barclays lifted their price target on shares of ITT from $210.00 to $230.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Weiss Ratings downgraded shares of ITT from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. DA Davidson lifted their price target on shares of ITT from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Stifel Nicolaus set a $246.00 price target on shares of ITT in a report on Thursday, May 7th. Finally, Robert W. Baird set a $246.00 price target on shares of ITT in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $234.91.

ITT Price Performance

ITT stock opened at $188.59 on Friday. ITT Inc. has a 1 year low of $149.02 and a 1 year high of $225.26. The firm has a 50 day moving average price of $203.39 and a 200 day moving average price of $192.31. The company has a market cap of $16.86 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 1.74 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.53.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.21. ITT had a net margin of 10.80% and a return on equity of 16.83%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm earned $1.45 earnings per share. ITT's revenue was up 32.7% compared to the same quarter last year. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. Sell-side analysts predict that ITT Inc. will post 7.9 earnings per share for the current year.

ITT Announces Dividend

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

Insider Buying and Selling

In related news, CAO Mesa Graziano Cheryl De sold 200 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the completion of the sale, the chief accounting officer directly owned 7,859 shares in the company, valued at approximately $1,637,894.19. The trade was a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lori B. Marino sold 7,123 shares of ITT stock in a transaction that occurred on 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 transaction, the insider directly 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 SEC filing for this sale provides additional information. 0.88% of the stock is currently owned by insiders.

ITT Company 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.

Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.