Kestra Investment Management LLC Makes New $2.39 Million Investment in ITT Inc. $ITT

Key Points

• Kestra Investment Management initiated a new position in ITT, buying 13,752 shares valued at about $2.39 million in the fourth quarter.
• ITT reported strong quarterly results, with earnings of $1.98 per share and revenue of $1.21 billion, both ahead of analyst expectations. Revenue also rose 32.7% year over year.
• Analyst sentiment remains generally positive, with 10 Buy ratings and a consensus Moderate Buy rating; the average price target is $234.91.

Kestra Investment Management LLC bought a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 13,752 shares of the conglomerate's stock, valued at approximately $2,386,000.

A number of other large investors also recently bought and sold shares of the company. Assetmark Inc. lifted its holdings in ITT by 10.9% during the 3rd quarter. Assetmark Inc. now owns 558 shares of the conglomerate's stock worth $100,000 after buying an additional 55 shares during the last quarter. Stephens Inc. AR raised its position in shares of ITT by 3.8% during the 4th quarter. Stephens Inc. AR now owns 1,654 shares of the conglomerate's stock worth $287,000 after purchasing an additional 60 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of ITT by 0.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,917 shares of the conglomerate's stock worth $4,454,000 after purchasing an additional 65 shares during the period. Covestor Ltd raised its position in shares of ITT by 15.3% during the 3rd quarter. Covestor Ltd now owns 512 shares of the conglomerate's stock worth $92,000 after purchasing an additional 68 shares during the period. Finally, Merit Financial Group LLC raised its position in shares of ITT by 1.5% during the 3rd quarter. Merit Financial Group LLC now owns 4,725 shares of the conglomerate's stock worth $845,000 after purchasing an additional 69 shares during the period. Institutional investors own 91.59% of the company's stock.

Insider Activity

In other 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 transaction, the chief executive officer directly owned 262,354 shares in the company, valued at approximately $50,028,284.26. This trade represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the transaction, the chief accounting officer owned 7,859 shares in the company, valued at approximately $1,637,894.19. This trade represents a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 70,773 shares of company stock worth $13,624,470. 0.88% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on ITT in a research report on Tuesday, March 31st. They set a "buy" rating and a $270.00 price target on the stock. Wall Street Zen cut ITT from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings cut ITT from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. BMO Capital Markets assumed coverage on ITT in a research report on Friday, March 27th. They set an "outperform" rating and a $233.00 price target on the stock. Finally, KeyCorp increased their price target on ITT from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Ten research 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 an average target price of $234.91.

ITT Stock Up 0.1%

ITT opened at $195.15 on Tuesday. ITT Inc. has a 12 month low of $145.41 and a 12 month high of $225.26. 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 stock has a market cap of $17.45 billion, a P/E ratio of 34.42, a P/E/G ratio of 1.83 and a beta of 1.32. The stock's 50 day moving average price is $202.23 and its 200 day moving average price is $191.68.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Wednesday, May 6th. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.77 by $0.21. ITT had a return on equity of 16.83% and a net margin of 10.80%.The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the firm earned $1.45 EPS. The firm'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. As a group, research analysts predict that ITT Inc. will post 7.91 earnings per share for the current year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 8th will be given a dividend of $0.386 per share. The ex-dividend date is Monday, June 8th. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. ITT's dividend payout ratio (DPR) is 27.16%.

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.

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