Moore Capital Management LP Makes New Investment in ITT Inc. $ITT

Key Points

• Moore Capital Management initiated a new position in ITT Inc. in the fourth quarter, buying 122,225 shares valued at about $21.2 million.
• ITT reported better-than-expected quarterly results, posting EPS of $1.98 versus the $1.77 estimate and revenue of $1.21 billion versus $1.12 billion expected, with revenue up 32.7% year over year.
• The company declared a quarterly dividend of $0.386 per share, while analysts remain broadly constructive with an average rating of Moderate Buy and an average price target of $234.91.

Moore Capital Management LP bought a new position in ITT Inc. (NYSE:ITT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 122,225 shares of the conglomerate's stock, valued at approximately $21,207,000. Moore Capital Management LP owned about 0.14% of ITT at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. iSAM Funds UK Ltd bought a new stake in shares of ITT during the third quarter worth approximately $2,113,000. Chesapeake Capital Corp IL bought a new stake in shares of ITT during the third quarter worth approximately $1,125,000. Brown Brothers Harriman & Co. raised its stake in shares of ITT by 86,878.2% during the third quarter. Brown Brothers Harriman & Co. now owns 267,893 shares of the conglomerate's stock worth $47,889,000 after buying an additional 267,585 shares during the last quarter. Regents Gate Capital LLP bought a new stake in shares of ITT during the third quarter worth approximately $9,381,000. Finally, TimesSquare Capital Management LLC raised its stake in shares of ITT by 10.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 226,700 shares of the conglomerate's stock worth $39,335,000 after buying an additional 21,200 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Stock Down 1.4%

ITT stock opened at $191.31 on Thursday. The stock has a market capitalization of $17.10 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 1.83 and a beta of 1.27. ITT Inc. has a twelve month low of $149.02 and a twelve month high of $225.26. The company has a quick ratio of 1.01, a current ratio of 1.53 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $203.39 and a 200-day moving average of $192.60.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.12 billion. ITT had a net margin of 10.80% and a return on equity of 16.83%. The business's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.45 earnings per share. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. On average, equities research analysts anticipate that ITT Inc. will post 7.9 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 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 Monday, June 8th. ITT's dividend payout ratio is 27.16%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ITT. DA Davidson boosted their price target on shares of ITT from $245.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. The Goldman Sachs Group began coverage on shares of ITT in a research note on Tuesday, March 31st. They set a "buy" rating and a $270.00 price target for the company. BMO Capital Markets began coverage on shares of ITT in a research note on Friday, March 27th. They set an "outperform" rating and a $233.00 price target for the company. Stifel Nicolaus set a $246.00 price target on shares of ITT in a research note on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of ITT from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $234.91.

Insider Activity at ITT

In other news, CAO Mesa Graziano Cheryl De sold 200 shares of the company'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 transaction, the chief accounting officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lori B. Marino sold 7,123 shares of the company's 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 completion of the transaction, the insider owned 8,729 shares of the company's stock, valued at $1,817,988.83. This trade represents a 44.93% decrease in their position. The SEC filing for this sale provides additional information. 0.88% of the stock is owned by corporate 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.

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