Principal Financial Group Inc. Boosts Position in ITT Inc. $ITT

Key Points

• Principal Financial Group increased its ITT stake by 5.0% in the first quarter, adding 9,170 shares to bring its total to 191,896 shares worth about $36.6 million. Several other institutional investors also boosted or initiated positions, and institutions now own 91.59% of ITT.
• ITT shares were trading around $192.62, near their 50-day and 200-day moving averages, with a market cap of $17.22 billion. The stock is down 1.4% and has traded between $155.58 and $225.26 over the past year.
• ITT reported strong quarterly results, with EPS of $1.98 versus estimates of $1.77 and revenue of $1.21 billion versus expectations of $1.12 billion. Analysts remain mostly positive, with 11 Buy ratings, one Hold, and an average target price of $234.42.

Principal Financial Group Inc. raised its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,896 shares of the conglomerate's stock after buying an additional 9,170 shares during the period. Principal Financial Group Inc. owned about 0.21% of ITT worth $36,562,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Diversified Trust Co acquired a new stake in ITT in the 1st quarter valued at $2,478,000. TimesSquare Capital Management LLC boosted its position in shares of ITT by 10.3% in 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 period. Payden & Rygel boosted its position in shares of ITT by 34.7% in the fourth quarter. Payden & Rygel now owns 112,500 shares of the conglomerate's stock worth $19,520,000 after buying an additional 29,000 shares during the period. Vanguard Group Inc. grew its stake in shares of ITT by 7.9% in the fourth quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate's stock valued at $1,467,976,000 after buying an additional 620,217 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of ITT by 15.6% during the 4th quarter. Geode Capital Management LLC now owns 1,614,929 shares of the conglomerate's stock valued at $280,267,000 after buying an additional 217,360 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Trading Down 1.4%

Shares of ITT opened at $192.62 on Friday. ITT Inc. has a one year low of $155.58 and a one year high of $225.26. The stock has a 50-day moving average price of $193.80 and a 200 day moving average price of $194.98. 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 company has a market capitalization of $17.22 billion, a P/E ratio of 33.97, a P/E/G ratio of 1.81 and a beta of 1.27.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.45 EPS. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. Sell-side analysts forecast that ITT Inc. will post 7.91 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 8th were paid a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, June 8th. ITT's payout ratio is 27.16%.

Analysts Set New Price Targets

A number of research firms have weighed in on ITT. Wolfe Research upgraded ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 price target for the company in a report on Thursday, July 9th. Barclays lifted their price objective on shares of ITT from $210.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Weiss Ratings cut shares of ITT from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. KeyCorp upped their target price on shares of ITT from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group initiated coverage on shares of ITT in a report on Tuesday, March 31st. They set a "buy" rating and a $270.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $234.42.

Insider Buying and Selling at ITT

In other news, insider Lori B. Marino sold 7,123 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $208.27, for a total value of $1,483,507.21. Following the completion of the sale, the insider owned 8,729 shares of the company's stock, valued at approximately $1,817,988.83. The trade was a 44.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $208.41, for a total transaction of $41,682.00. Following the completion of the sale, the chief accounting officer owned 7,859 shares in the company, valued at approximately $1,637,894.19. This trade represents a 2.48% decrease in their position. 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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