ITT (NYSE:ITT) Hits New 1-Year High - Time to Buy?

Key Points

• ITT Inc. shares reached a new 52-week high of $180.59, with recent trading at $179.80 and significant analyst upgrades, including a buy rating and price targets exceeding $190 from several firms.
• The company reported earnings of $1.64 per share for the last quarter, which surpassed estimates and demonstrated a 7.3% revenue growth year-over-year.
• ITT declared a quarterly dividend of $0.351, yielding approximately 0.8%, with the ex-dividend date set for September 2nd.

Shares of ITT Inc. (NYSE:ITT - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $180.59 and last traded at $179.80, with a volume of 455272 shares trading hands. The stock had previously closed at $177.49.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ITT. Citigroup reaffirmed a "buy" rating and set a $186.00 price objective (up from $159.00) on shares of ITT in a research report on Monday, July 14th. DA Davidson set a $190.00 price target on shares of ITT and gave the company a "buy" rating in a report on Monday, August 4th. Stifel Nicolaus lifted their price target on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a report on Friday, August 1st. KeyCorp lifted their price target on shares of ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a report on Friday. Finally, The Goldman Sachs Group increased their price objective on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $183.67.

ITT Trading Up 1.3%

The company's fifty day moving average is $166.03 and its 200-day moving average is $149.91. The stock has a market cap of $14.02 billion, a PE ratio of 28.27, a PEG ratio of 2.19 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. The firm had revenue of $972.40 million for the quarter, compared to the consensus estimate of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be issued a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's payout ratio is presently 22.01%.

Insider Buying and Selling

In related news, CEO Luca Savi sold 36,385 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $5,994,792.60. Following the completion of the sale, the chief executive officer owned 297,536 shares of the company's stock, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. purchased a new position in ITT in the 2nd quarter valued at $27,000. Atlantic Union Bankshares Corp purchased a new position in ITT in the 2nd quarter valued at $34,000. MTM Investment Management LLC purchased a new stake in ITT in the 2nd quarter valued at $39,000. Clearstead Trust LLC grew its holdings in ITT by 40.0% in the 2nd quarter. Clearstead Trust LLC now owns 350 shares of the conglomerate's stock valued at $55,000 after buying an additional 100 shares in the last quarter. Finally, NewSquare Capital LLC grew its holdings in ITT by 37.2% in the 2nd quarter. NewSquare Capital LLC now owns 454 shares of the conglomerate's stock valued at $71,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

About ITT

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.

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