Insider Buying: ITT (NYSE:ITT) CEO Acquires $1,001,591.64 in Stock

Key Points

• ITT CEO Luca Savi purchased 5,019 shares at an average price of $199.56, investing approximately $1.00 million and increasing his direct holdings by 1.91% to 267,373 shares.
• ITT reported stronger-than-expected quarterly results, with EPS of $2.08 versus the $1.92 consensus and revenue of $1.47 billion, up 51.5% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $241.08 compared with the stock’s recent price of $194.03; the company also declared a quarterly dividend of $0.386 per share.

ITT Inc. (NYSE:ITT - Get Free Report) CEO Luca Savi purchased 5,019 shares of the stock in a transaction dated Monday, August 31st. The shares were acquired at an average cost of $199.56 per share, for a total transaction of $1,001,591.64. Following the completion of the acquisition, the chief executive officer directly owned 267,373 shares of the company's stock, valued at approximately $53,356,955.88. This trade represents a 1.91% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

ITT Price Performance

Shares of ITT stock traded down $6.26 during midday trading on Tuesday, reaching $194.03. 870,630 shares of the company were exchanged, compared to its average volume of 906,304. The company's 50 day moving average price is $200.20 and its two-hundred day moving average price is $199.70. The company has a market cap of $17.35 billion, a P/E ratio of 38.05, 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 debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.26.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $1.39 billion. During the same period last year, the firm posted $1.64 earnings per share. The business's 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, sell-side analysts expect that ITT Inc. will post 8.25 earnings per share for the current year.

ITT Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup boosted their price objective on ITT from $254.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Weiss Ratings lowered ITT from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Stifel Nicolaus boosted their price target on shares of ITT from $246.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. BMO Capital Markets reissued an "outperform" rating and issued a $273.00 price target on shares of ITT in a report on Friday, August 7th. Finally, DA Davidson raised their price objective on shares of ITT from $255.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $241.08.

Hedge Funds Weigh In On ITT

A number of institutional investors have recently bought and sold shares of ITT. Oppenheimer Asset Management Inc. purchased a new position in shares of ITT during the second quarter valued at $2,285,000. Diversified Trust Co acquired a new stake in ITT during the 1st quarter worth about $2,478,000. TimesSquare Capital Management LLC boosted its position in ITT by 10.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 226,700 shares of the conglomerate's stock worth $39,335,000 after acquiring an additional 21,200 shares during the period. Payden & Rygel grew its stake in ITT by 34.7% during the 4th quarter. Payden & Rygel now owns 112,500 shares of the conglomerate's stock valued at $19,520,000 after acquiring an additional 29,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of ITT by 15.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 110,200 shares of the conglomerate's stock valued at $21,264,000 after purchasing an additional 15,004 shares during the period. Hedge funds and other institutional investors own 91.59% 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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