Quantbot Technologies LP Buys New Stake in ITT Inc. $ITT

Key Points

• Quantbot Technologies bought 16,267 shares of ITT in the second quarter, valued at approximately $3.2 million. Institutional investors and hedge funds collectively own 91.59% of the company.
• ITT reported stronger-than-expected quarterly results, with adjusted EPS of $2.08 versus the $1.92 consensus estimate and revenue of $1.47 billion, up 51.5% year over year.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and two Holds, an average “Moderate Buy” rating, and a $241.08 average price target. ITT also declared a quarterly dividend of $0.386 per share, equivalent to a 0.7% yield.

Quantbot Technologies LP bought a new position in ITT Inc. (NYSE:ITT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,267 shares of the conglomerate's stock, valued at approximately $3,217,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ITT. Oppenheimer Asset Management Inc. acquired a new position in ITT during the 2nd quarter worth about $2,285,000. Diversified Trust Co acquired a new position in shares of ITT during the first quarter valued at $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 acquiring an additional 21,200 shares during the last quarter. Payden & Rygel increased its position in 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 purchasing an additional 29,000 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in ITT by 15.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 110,200 shares of the conglomerate's stock worth $21,264,000 after purchasing an additional 15,004 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ITT

In other news, CAO Mesa Graziano Cheryl De sold 700 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $214.54, for a total transaction of $150,178.00. Following the completion of the transaction, the chief accounting officer directly owned 7,159 shares of the company's stock, valued at $1,535,891.86. This represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by corporate insiders.

ITT Stock Up 0.1%

Shares of NYSE ITT opened at $208.23 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.26. ITT Inc. has a 52-week low of $165.82 and a 52-week high of $230.32. The firm has a 50 day moving average price of $199.02 and a 200 day moving average price of $199.34. The stock has a market cap of $18.62 billion, a P/E ratio of 40.83, a P/E/G ratio of 1.70 and a beta of 1.27.

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

ITT Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ITT. Wolfe Research upgraded shares of ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 target price on the stock in a research report on Thursday, July 9th. BMO Capital Markets reiterated an "outperform" rating and set a $273.00 price target on shares of ITT in a research report on Friday, August 7th. Wall Street Zen downgraded shares of ITT from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings lowered shares of ITT from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday. Finally, Citigroup raised their price objective on shares of ITT from $254.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $241.08.

ITT 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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