PDT Partners LLC Makes New Investment in ITT Inc. $ITT

Key Points

• PDT Partners acquired 13,888 shares of ITT worth approximately $2.75 million during the second quarter. Institutional investors and hedge funds collectively own 91.59% of ITT’s outstanding shares.
• Analysts maintain a generally positive outlook, with ten Buy ratings and two Hold ratings, producing a consensus “Moderate Buy” rating 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, equivalent to a 0.7% annualized yield.

PDT Partners LLC acquired a new stake in ITT Inc. (NYSE:ITT - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,888 shares of the conglomerate's stock, valued at approximately $2,746,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ITT. Oppenheimer Asset Management Inc. purchased a new position in shares of ITT in the 2nd quarter valued at about $2,285,000. Diversified Trust Co purchased a new stake in ITT during the first quarter worth approximately $2,478,000. TimesSquare Capital Management LLC boosted its holdings in ITT by 10.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 226,700 shares of the conglomerate's stock valued at $39,335,000 after purchasing an additional 21,200 shares in the last quarter. Payden & Rygel boosted its holdings in ITT by 34.7% in the fourth quarter. Payden & Rygel now owns 112,500 shares of the conglomerate's stock valued at $19,520,000 after purchasing an additional 29,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in ITT by 15.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 110,200 shares of the conglomerate's stock valued at $21,264,000 after purchasing an additional 15,004 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ITT shares. BMO Capital Markets restated an "outperform" rating and set a $273.00 price objective on shares of ITT in a research report on Friday, August 7th. Weiss Ratings downgraded shares of ITT from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. DA Davidson lifted their price target on shares of ITT from $255.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Wolfe Research upgraded shares of ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 price target on the stock in a research note on Thursday, July 9th. Finally, Citigroup boosted their price target on shares of ITT from $254.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $241.08.

ITT Stock Up 2.2%

ITT stock opened at $210.50 on Thursday. The company has a market cap of $18.82 billion, a price-to-earnings ratio of 41.27, a price-to-earnings-growth ratio of 1.68 and a beta of 1.27. The company has a fifty day moving average price of $199.83 and a 200 day moving average price of $199.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.26 and a quick ratio of 0.85. ITT Inc. has a 12 month low of $166.96 and a 12 month high of $230.32.

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

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.386 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.7%. ITT's dividend payout ratio (DPR) is currently 30.20%.

Insider Transactions at ITT

In related news, CAO Mesa Graziano Cheryl De sold 700 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $214.54, for a total value of $150,178.00. Following the transaction, the chief accounting officer owned 7,159 shares in the company, valued at $1,535,891.86. The trade was a 8.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

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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