Moran Wealth Management LLC Trims Stock Position in ITT Inc. $ITT

Key Points

• Moran Wealth Management LLC reduced its stake in ITT Inc. by 4.6% during the 2nd quarter, owning 72,012 shares valued at approximately $11.29 million.
• ITT recently declared a quarterly dividend of $0.351 per share with an annualized basis yield of 0.8%, reflecting a dividend payout ratio of 22.01%.
• The stock received positive ratings from multiple brokerages, with target prices ranging from $192.00 to $200.00, indicating a consensus rating of "Moderate Buy".

Moran Wealth Management LLC lessened its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,012 shares of the conglomerate's stock after selling 3,492 shares during the quarter. Moran Wealth Management LLC owned about 0.09% of ITT worth $11,294,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AdvisorNet Financial Inc lifted its position in shares of ITT by 26.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock worth $76,000 after buying an additional 101 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of ITT by 72.7% in the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock valued at $103,000 after acquiring an additional 331 shares during the period. CX Institutional acquired a new position in shares of ITT in the 1st quarter valued at $107,000. Geneos Wealth Management Inc. increased its holdings in shares of ITT by 341.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate's stock valued at $118,000 after acquiring an additional 706 shares during the period. Finally, Quarry LP increased its holdings in shares of ITT by 273.4% in the 1st quarter. Quarry LP now owns 926 shares of the conglomerate's stock valued at $120,000 after acquiring an additional 678 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Stock Performance

Shares of ITT opened at $171.77 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. The stock has a market capitalization of $13.40 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.11 and a beta of 1.38. The company's fifty day moving average is $173.34 and its two-hundred day moving average is $155.90. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $185.57.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The business had revenue of $972.40 million for the quarter, compared to analysts' expectations of $947.48 million. During the same period in the prior year, the company posted $1.49 EPS. The business's revenue for the quarter was up 7.3% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, sell-side analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.351 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. ITT's dividend payout ratio is 22.01%.

Insider Buying and Selling at ITT

In other news, CEO Luca Savi sold 36,385 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the transaction, the chief executive officer directly owned 297,536 shares of the company's stock, valued at $49,022,031.36. This represents a 10.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ITT. KeyCorp lifted their target price on shares of ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, September 12th. Citigroup reaffirmed a "buy" rating on shares of ITT in a report on Thursday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of ITT in a report on Wednesday, October 8th. TD Cowen boosted their price objective on shares of ITT from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Finally, DA Davidson set a $190.00 price objective on shares of ITT and gave the company a "buy" rating in a research note on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $190.89.

About ITT

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.

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