Wellington Management Group LLP Raises Stock Holdings in ITT Inc. $ITT

Wellington Management Group LLP increased its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 16.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 825,147 shares of the conglomerate's stock after acquiring an additional 117,155 shares during the quarter. Wellington Management Group LLP owned approximately 0.92% of ITT worth $163,181,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Beacon Pointe Advisors LLC purchased a new position in shares of ITT in the 2nd quarter worth about $318,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in ITT in the second quarter worth about $4,416,000. Empowered Funds LLC bought a new stake in ITT in the second quarter worth about $2,241,000. United Capital Financial Advisors LLC purchased a new position in ITT in the second quarter valued at about $505,000. Finally, Grandeur Peak Global Advisors LLC grew its position in shares of ITT by 26.3% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 184,902 shares of the conglomerate's stock valued at $36,566,000 after acquiring an additional 38,483 shares during the period. Institutional investors own 91.59% of the company's stock.

ITT Stock Performance

Shares of ITT stock opened at $200.33 on Tuesday. The firm's 50 day moving average is $200.20 and its 200 day moving average is $199.70. The stock has a market capitalization of $17.91 billion, a P/E ratio of 39.28, a PEG ratio of 1.66 and a beta of 1.27. ITT Inc. has a 12 month low of $166.96 and a 12 month high of $230.32. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.16. ITT had a net margin of 8.90% and a return on equity of 15.90%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business earned $1.64 EPS. ITT'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. On average, sell-side analysts anticipate 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. Stockholders of record on Tuesday, September 8th will be given a $0.386 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. ITT's payout ratio is 30.20%.

Analyst Ratings Changes

ITT has been the subject of several research analyst reports. BMO Capital Markets reaffirmed an "outperform" rating and issued a $273.00 price target on shares of ITT in a report on Friday, August 7th. Wall Street Zen downgraded ITT from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. DA Davidson boosted their target price on ITT from $255.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Citigroup upped their price target on ITT from $254.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded ITT from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, ITT currently has an average rating of "Moderate Buy" and an average price target of $241.08.

Insider Activity

In related news, CAO Mesa Graziano Cheryl De sold 700 shares of the 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 sale, the chief accounting officer owned 7,159 shares of the company's stock, valued at approximately $1,535,891.86. This represents a 8.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.

Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source