Truist Financial Corp Trims Position in ITT Inc. $ITT

Key Points

• Truist Financial Corp reduced its ITT stake by 40.7% in the fourth quarter, selling 19,374 shares and leaving it with 28,204 shares valued at about $4.89 million.
• Analysts remain broadly positive on ITT, with 10 Buy ratings and one Hold; the consensus price target is $234, while Goldman Sachs initiated coverage with a $270 target.
• ITT reported strong quarterly results, posting EPS of $1.98 versus the $1.77 estimate and revenue of $1.21 billion, and it also announced a quarterly dividend of $0.386 per share.

Truist Financial Corp cut its position in ITT Inc. (NYSE:ITT - Free Report) by 40.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,204 shares of the conglomerate's stock after selling 19,374 shares during the period. Truist Financial Corp's holdings in ITT were worth $4,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. iSAM Funds UK Ltd purchased a new position in ITT during the third quarter valued at $2,113,000. Chesapeake Capital Corp IL purchased a new position in ITT during the third quarter valued at $1,125,000. Brown Brothers Harriman & Co. grew its stake in ITT by 86,878.2% during the third quarter. Brown Brothers Harriman & Co. now owns 267,893 shares of the conglomerate's stock valued at $47,889,000 after acquiring an additional 267,585 shares in the last quarter. Regents Gate Capital LLP purchased a new position in ITT during the third quarter valued at $9,381,000. Finally, Mawer Investment Management Ltd. grew its stake in ITT by 23.6% during the third quarter. Mawer Investment Management Ltd. now owns 402,919 shares of the conglomerate's stock valued at $72,026,000 after acquiring an additional 76,841 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ITT has been the subject of several research analyst reports. DA Davidson set a $245.00 target price on shares of ITT in a research note on Monday, February 9th. The Goldman Sachs Group initiated coverage on shares of ITT in a research note on Tuesday, March 31st. They set a "buy" rating and a $270.00 target price for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of ITT in a research note on Tuesday, April 21st. Wall Street Zen cut shares of ITT from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Citigroup raised their target price on shares of ITT from $252.00 to $254.00 and gave the company a "buy" rating in a research note on Thursday. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $234.00.

ITT Stock Performance

Shares of NYSE:ITT opened at $206.13 on Monday. ITT Inc. has a 52 week low of $142.64 and a 52 week high of $225.26. The stock has a market capitalization of $18.43 billion, a P/E ratio of 36.35, a PEG ratio of 1.94 and a beta of 1.32. The firm has a fifty day simple moving average of $201.24 and a two-hundred day simple moving average of $190.14. The company has a quick ratio of 1.01, a current ratio of 1.53 and a debt-to-equity ratio of 0.71.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The conglomerate reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.21. ITT had a net margin of 10.80% and a return on equity of 16.83%. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the company posted $1.45 EPS. The business's revenue was up 32.7% on a year-over-year basis. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. On average, analysts expect that ITT Inc. will post 7.89 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 8th will be paid a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 8th. ITT's dividend payout ratio (DPR) is presently 27.16%.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 63,450 shares of ITT stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $190.69, for a total value of $12,099,280.50. Following the completion of the transaction, the chief executive officer directly owned 262,354 shares of the company's stock, valued at $50,028,284.26. This trade represents a 19.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mesa Graziano Cheryl De sold 200 shares of ITT stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $208.41, for a total transaction of $41,682.00. Following the completion of the transaction, the chief accounting officer directly owned 7,859 shares of the company's stock, valued at $1,637,894.19. The trade was a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.88% of the company's stock.

ITT Company 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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