SIR Capital Management L.P. Acquires New Position in ITT Inc. $ITT

Key Points

• SIR Capital Management acquired 20,200 ITT shares worth approximately $4.0 million during the second quarter. Institutional investors collectively own 91.59% of the company.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $241.08; recent targets range as high as $273.
• ITT exceeded quarterly expectations, reporting $2.08 in adjusted earnings per share and $1.47 billion in revenue, up 51.5% year over year. The company also announced a quarterly dividend of $0.386 per share, equivalent to a 0.8% annualized yield.

SIR Capital Management L.P. bought a new position in ITT Inc. (NYSE:ITT - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 20,200 shares of the conglomerate's stock, valued at approximately $3,995,000.

A number of other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of ITT in the second quarter valued at approximately $28,000. Elyxium Wealth LLC purchased a new position in ITT during the 4th quarter worth $29,000. Bayban purchased a new position in ITT during the 4th quarter worth $31,000. Trust Co. of Vermont bought a new stake in ITT during the 2nd quarter valued at $33,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of ITT by 62.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate's stock worth $34,000 after buying an additional 76 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ITT shares. Stifel Nicolaus increased their price target on ITT from $246.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. DA Davidson lifted their price objective on ITT from $255.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Weiss Ratings lowered shares of ITT from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. Robert W. Baird set a $246.00 target price on shares of ITT in a report on Thursday, May 7th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $273.00 price target on shares of ITT in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $241.08.

ITT Trading Down 1.5%

Shares of NYSE:ITT opened at $204.93 on Tuesday. The business's 50-day moving average is $199.21 and its 200 day moving average is $199.47. ITT Inc. has a 1 year low of $166.96 and a 1 year high of $230.32. The firm has a market capitalization of $18.32 billion, a P/E ratio of 40.18, a P/E/G ratio of 1.70 and a beta of 1.27. 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 (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The conglomerate reported $2.08 earnings per share 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 during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company earned $1.64 earnings per share. The company's quarterly revenue was up 51.5% on a year-over-year basis. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. On average, research analysts predict that ITT Inc. will post 8.25 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Tuesday, September 8th will be paid a $0.386 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. ITT's dividend payout ratio (DPR) is 30.20%.

Insider Buying and Selling

In other ITT news, CAO Mesa Graziano Cheryl De sold 700 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $214.54, for a total transaction of $150,178.00. Following the sale, the chief accounting officer owned 7,159 shares of the company's stock, valued at approximately $1,535,891.86. The trade was a 8.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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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