Norges Bank Invests $194.88 Million in ITT Inc. $ITT

Key Points

• Norges Bank disclosed a new fourth-quarter stake in ITT Inc., buying 1,123,184 shares valued at about $194.9 million and representing roughly 1.31% of the company.
• ITT reported strong quarterly results, with EPS of $1.98 and revenue of $1.21 billion, both above analyst expectations. Revenue rose 32.7% year over year, and the company set FY 2026 guidance at 7.7 to 8.0 EPS.
• Analysts remain broadly bullish on ITT, with 10 Buy ratings and one Hold rating. The stock has a consensus Moderate Buy rating and an average price target of $234.91.

Norges Bank purchased a new stake in ITT Inc. (NYSE:ITT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,123,184 shares of the conglomerate's stock, valued at approximately $194,884,000. Norges Bank owned approximately 1.31% of ITT as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. acquired a new position in ITT in the fourth quarter valued at approximately $167,000. Hillsdale Investment Management Inc. boosted its holdings in ITT by 19,090.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 21,110 shares of the conglomerate's stock valued at $3,663,000 after purchasing an additional 21,000 shares in the last quarter. Fideuram Asset Management Ireland dac acquired a new position in ITT in the fourth quarter valued at approximately $1,006,000. Northwestern Mutual Wealth Management Co. boosted its holdings in ITT by 11.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,015 shares of the conglomerate's stock valued at $523,000 after purchasing an additional 305 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in ITT by 5.0% in the fourth quarter. Intech Investment Management LLC now owns 7,866 shares of the conglomerate's stock valued at $1,365,000 after purchasing an additional 372 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on ITT. BMO Capital Markets began coverage on ITT in a report on Friday, March 27th. They issued an "outperform" rating and a $233.00 price target for the company. Robert W. Baird set a $246.00 price target on ITT in a report on Thursday, May 7th. The Goldman Sachs Group began coverage on ITT in a report on Tuesday, March 31st. They issued a "buy" rating and a $270.00 price target for the company. Weiss Ratings downgraded ITT from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Finally, Citigroup boosted their price objective on ITT from $252.00 to $254.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, ITT presently has a consensus rating of "Moderate Buy" and an average target price of $234.91.

ITT Stock Up 0.1%

ITT stock opened at $194.30 on Thursday. 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 firm has a market capitalization of $17.37 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 1.83 and a beta of 1.27. ITT Inc. has a fifty-two week low of $149.02 and a fifty-two week high of $225.26. The stock's fifty day moving average is $203.33 and its two-hundred day moving average is $192.00.

ITT (NYSE:ITT - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $1.12 billion. ITT had a return on equity of 16.83% and a net margin of 10.80%.ITT's 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. Analysts predict that ITT Inc. will post 7.9 EPS for the current fiscal year.

ITT Announces Dividend

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

Insider Activity

In related news, insider Lori B. Marino sold 7,123 shares of the stock in a transaction dated 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 directly owned 8,729 shares in the company, valued at approximately $1,817,988.83. This represents a 44.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the stock in a transaction dated 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 owned 7,859 shares in the company, valued at $1,637,894.19. This trade represents a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.88% of the company's stock.

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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