Livforsakringsbolaget Skandia Omsesidigt Makes New $3.52 Million Investment in ITT Inc. $ITT

Key Points

• Livforsakringsbolaget Skandia Omsesidigt opened a new position in ITT Inc. during the fourth quarter, buying 20,300 shares valued at about $3.52 million.
• Institutional ownership in ITT remains very high, with hedge funds and other investors making several large moves; institutions now hold 91.59% of the company.
• ITT recently posted better-than-expected quarterly results, with EPS of $1.98 and revenue of $1.21 billion, and it also declared a quarterly dividend of $0.386 per share.

Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 20,300 shares of the conglomerate's stock, valued at approximately $3,521,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ITT by 55,929.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate's stock worth $263,458,000 after acquiring an additional 1,515,695 shares during the period. Norges Bank acquired a new stake in shares of ITT in the 4th quarter worth approximately $194,884,000. Vanguard Group Inc. grew its holdings in shares of ITT by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate's stock worth $1,467,976,000 after acquiring an additional 620,217 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of ITT by 86,878.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 267,893 shares of the conglomerate's stock worth $47,889,000 after acquiring an additional 267,585 shares during the period. Finally, Seven Grand Managers LLC acquired a new stake in shares of ITT in the 4th quarter worth approximately $43,378,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Insiders Place Their Bets

In other ITT news, insider Lori B. Marino sold 7,123 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $208.27, for a total transaction of $1,483,507.21. Following the transaction, the insider owned 8,729 shares of the company's stock, valued at $1,817,988.83. This represents a 44.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the 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 in the company, valued at approximately $1,637,894.19. This represents a 2.48% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

ITT has been the topic of a number of research reports. Weiss Ratings cut ITT from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. The Goldman Sachs Group initiated coverage on ITT in a report on Tuesday, March 31st. They issued a "buy" rating and a $270.00 price target on the stock. BMO Capital Markets assumed coverage on ITT in a report on Friday, March 27th. They issued an "outperform" rating and a $233.00 price target on the stock. DA Davidson upped their target price on ITT from $245.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Finally, Stifel Nicolaus set a $246.00 target price on ITT in a research note on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $234.91.

ITT Price Performance

ITT stock opened at $193.31 on Friday. ITT Inc. has a 1 year low of $149.02 and a 1 year high of $225.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.53. The stock's 50 day moving average price is $203.31 and its 200 day moving average price is $192.06. The firm has a market cap of $17.28 billion, a P/E ratio of 34.09, a PEG ratio of 1.83 and a beta of 1.27.

ITT (NYSE:ITT - Get Free Report) last posted 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 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 analyst estimates of $1.12 billion. During the same quarter in the prior year, the company earned $1.45 EPS. ITT's revenue was up 32.7% on a year-over-year basis. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. On average, sell-side analysts expect that ITT Inc. will post 7.9 earnings per share for the current fiscal year.

ITT Dividend Announcement

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

About ITT

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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