ITT (NYSE:ITT) Sets New 12-Month High - Here's Why

Key Points

• ITT Inc. reached a new 52-week high with a stock price of $175.04, following significant upward revisions in price targets by multiple analysts.
• The company reported a net margin of 13.99% and a revenue increase of 7.3% year-over-year, demonstrating strong financial performance in its latest quarterly earnings.
• ITT announced a quarterly dividend of $0.351 per share, reflecting a dividend yield of 0.8% and a payout ratio of 22.01%.

ITT Inc. (NYSE:ITT - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $174.99 and last traded at $175.04, with a volume of 14488 shares. The stock had previously closed at $171.93.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ITT. The Goldman Sachs Group raised their target price on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. UBS Group raised their target price on ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. DA Davidson set a $190.00 target price on ITT and gave the stock a "buy" rating in a research note on Monday, August 4th. Bank of America raised their target price on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, Citigroup reissued a "buy" rating and issued a $186.00 target price (up from $159.00) on shares of ITT in a research note on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $183.67.

ITT Stock Up 1.2%

The stock has a market capitalization of $14.01 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 2.19 and a beta of 1.39. The company's fifty day moving average price is $165.61 and its 200-day moving average price is $149.64. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

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

ITT Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. ITT's payout ratio is presently 22.01%.

Insider Buying and Selling

In other ITT news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On ITT

A number of large investors have recently added to or reduced their stakes in the stock. Select Equity Group L.P. grew its position in shares of ITT by 4.4% during the 1st quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate's stock valued at $615,525,000 after acquiring an additional 200,676 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in ITT by 97.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock worth $237,125,000 after purchasing an additional 904,654 shares in the last quarter. Nuveen LLC purchased a new stake in ITT in the 1st quarter worth $156,406,000. Invesco Ltd. lifted its stake in ITT by 14.2% in the 2nd quarter. Invesco Ltd. now owns 1,094,750 shares of the conglomerate's stock worth $171,690,000 after purchasing an additional 135,768 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of ITT by 5.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 960,394 shares of the conglomerate's stock valued at $150,619,000 after buying an additional 45,826 shares in the last quarter. 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.