ITT (NYSE:ITT) Sets New 12-Month High - What's Next?

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)'s stock price reached a new 52-week high on Wednesday . The company 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

A number of equities analysts have weighed in on ITT shares. KeyCorp upped their price objective on shares of ITT from $180.00 to $192.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. DA Davidson set a $190.00 price objective on shares of ITT and gave the stock a "buy" rating in a research report on Monday, August 4th. UBS Group upped their price objective on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Stifel Nicolaus increased their target price on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Citigroup reiterated a "buy" rating and issued a $186.00 target price (up from $159.00) on shares of ITT in a research report on Monday, July 14th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, ITT currently has an average rating of "Moderate Buy" and an average target price of $182.78.

ITT Trading Up 1.0%

The firm has a market capitalization of $13.55 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.13 and a beta of 1.39. The business's 50-day simple moving average is $164.66 and its two-hundred day simple moving average is $148.84. 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 results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating 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 business had revenue of $972.40 million during the quarter, compared to analysts' expectations of $947.48 million. During the same period last year, the business earned $1.49 earnings per share. The business'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. Equities analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

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

Insider Activity at ITT

In other news, CEO Luca Savi sold 36,385 shares of the firm's 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 transaction, the chief executive officer owned 297,536 shares of the company's stock, valued at approximately $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jump Financial LLC boosted its stake in shares of ITT by 145.8% in the first quarter. Jump Financial LLC now owns 17,152 shares of the conglomerate's stock valued at $2,215,000 after purchasing an additional 10,173 shares during the period. GSA Capital Partners LLP purchased a new position in shares of ITT in the first quarter valued at approximately $609,000. XTX Topco Ltd purchased a new position in shares of ITT in the first quarter valued at approximately $1,214,000. Charles Schwab Investment Management Inc. boosted its stake in shares of ITT by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 522,212 shares of the conglomerate's stock valued at $67,449,000 after purchasing an additional 4,905 shares during the period. Finally, Merit Financial Group LLC purchased a new position in shares of ITT in the first quarter valued at approximately $273,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Company Profile

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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