Livforsakringsbolaget Skandia Omsesidigt Purchases Shares of 22,300 ITT Inc. $ITT

Key Points

• Livforsakringsbolaget Skandia Omsesidigt acquired 22,300 ITT shares during the second quarter, valued at approximately $4.4 million. Institutional investors collectively own 91.59% of ITT.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and two Holds, producing a consensus rating of “Moderate Buy” and an average price target of $241.08.
• ITT reported quarterly EPS of $2.08, exceeding estimates by $0.16, while revenue rose 51.5% year over year to $1.47 billion. The company also declared a quarterly dividend of $0.386 per share, representing a 0.8% annual yield.

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in ITT Inc. (NYSE:ITT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,300 shares of the conglomerate's stock, valued at approximately $4,416,000.

Several other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in ITT in the 2nd quarter worth approximately $1,715,593,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ITT by 55,929.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate's stock worth $263,458,000 after buying an additional 1,515,695 shares in the last quarter. Findlay Park Partners LLP bought a new position in shares of ITT during the second quarter worth $276,395,000. Norges Bank purchased a new position in ITT during the fourth quarter valued at $194,884,000. Finally, Bank of America Corp DE purchased a new position in ITT during the second quarter valued at $173,436,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ITT. BMO Capital Markets reiterated an "outperform" rating and issued a $273.00 price target on shares of ITT in a research note on Friday, August 7th. Weiss Ratings lowered ITT from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Barclays lifted their target price on ITT from $210.00 to $230.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Citigroup increased their price target on ITT from $254.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Robert W. Baird set a $246.00 price objective on ITT in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $241.08.

Insider Activity at ITT

In related news, CAO Mesa Graziano Cheryl De sold 700 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $214.54, for a total transaction of $150,178.00. Following the transaction, the chief accounting officer directly owned 7,159 shares in the company, valued at approximately $1,535,891.86. This represents a 8.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company's stock.

ITT Price Performance

NYSE:ITT opened at $202.80 on Friday. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 1.70 and a beta of 1.27. 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 business has a 50 day simple moving average of $200.18 and a 200-day simple moving average of $199.70. ITT Inc. has a 1 year low of $166.96 and a 1 year high of $230.32.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, August 6th. The conglomerate reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.16. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.39 billion. ITT had a return on equity of 15.90% and a net margin of 8.90%.The company's revenue for the quarter was up 51.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Equities analysts forecast that ITT Inc. will post 8.25 EPS for the current year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th will be issued a $0.386 dividend. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 8th. ITT's dividend payout ratio (DPR) is 30.20%.

ITT 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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