King Luther Capital Management Corp Purchases 11,351 Shares of ITT Inc. $ITT

Key Points

• King Luther Capital Management increased its ITT stake by 10.4% in the fourth quarter, buying 11,351 additional shares and bringing its holdings to 119,983 shares worth about $20.8 million.
• ITT recently 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.
• Wall Street remains broadly positive on ITT, with 10 Buy ratings and 1 Hold, an average target price of $234.91, and a quarterly dividend of $0.386 set to be paid on July 6.

King Luther Capital Management Corp grew its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,983 shares of the conglomerate's stock after buying an additional 11,351 shares during the quarter. King Luther Capital Management Corp owned approximately 0.14% of ITT worth $20,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Capital International Investors grew its stake in ITT by 0.5% during the third quarter. Capital International Investors now owns 8,538,229 shares of the conglomerate's stock worth $1,526,281,000 after buying an additional 38,433 shares during the last quarter. Vanguard Group Inc. grew its stake in ITT by 7.9% during the fourth quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate's stock worth $1,467,976,000 after buying an additional 620,217 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of ITT by 55,929.7% during the fourth 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 in the last quarter. Alliancebernstein L.P. lifted its position in shares of ITT by 11.2% during the third 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 in the last quarter. Finally, Invesco Ltd. lifted its position in shares of ITT by 3.1% during the third 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 in the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Trading Down 2.3%

Shares of NYSE ITT opened at $196.27 on Thursday. The company's 50 day simple moving average is $202.65 and its 200 day simple moving average is $191.84. ITT Inc. has a fifty-two week low of $147.63 and a fifty-two week high of $225.26. The firm has a market capitalization of $17.55 billion, a P/E ratio of 34.62, a P/E/G ratio of 1.89 and a beta of 1.32. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.53 and a quick ratio of 1.01.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.21. ITT had a net margin of 10.80% and a return on equity of 16.83%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business posted $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. On average, analysts predict that ITT Inc. will post 7.91 EPS for the current year.

ITT Dividend Announcement

The firm 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 $0.386 dividend. This represents a $1.54 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 8th. ITT's dividend payout ratio is currently 27.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ITT shares. Wall Street Zen lowered shares of ITT from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. KeyCorp upped their target price on shares of ITT from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. The Goldman Sachs Group started coverage on shares of ITT in a research report on Tuesday, March 31st. They set a "buy" rating and a $270.00 target price on the stock. DA Davidson upped their target price on shares of ITT from $245.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Finally, Robert W. Baird set a $246.00 target price on shares of ITT in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $234.91.

Insider Activity at ITT

In related news, CAO Mesa Graziano Cheryl De sold 200 shares of the 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 transaction, the chief accounting officer directly owned 7,859 shares in the company, valued at $1,637,894.19. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Luca Savi sold 63,450 shares of the 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 sale, the chief executive officer owned 262,354 shares in the company, valued at approximately $50,028,284.26. This trade represents a 19.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 70,773 shares of company stock worth $13,624,470 over the last ninety days. Company insiders own 0.88% of the company's stock.

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.