ITT (NYSE:ITT) Shares Gap Up on Insider Buying Activity

Key Points

• ITT shares rose 4.2%, opening at $200.37 after CEO Luca Savi bought 5,019 shares worth approximately $1.0 million, increasing his ownership by 1.91%.
• Analysts remain broadly positive, with nine Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $244.82.
• ITT exceeded quarterly earnings and revenue expectations, reporting $2.08 in EPS and $1.47 billion in revenue, while declaring a quarterly dividend of $0.386 per share.

ITT Inc. (NYSE:ITT - Get Free Report) gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $194.26, but opened at $200.37. ITT shares last traded at $200.1290, with a volume of 58,091 shares traded.

Specifically, CEO Luca Savi acquired 5,019 shares of ITT stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average price of $199.56 per share, with a total value of $1,001,591.64. Following the purchase, the chief executive officer directly owned 267,373 shares of the company's stock, valued at $53,356,955.88. The trade was a 1.91% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of ITT from $246.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Barclays lifted their price target on ITT from $210.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. DA Davidson raised their price objective on ITT from $255.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. BMO Capital Markets reissued an "outperform" rating and set a $273.00 target price on shares of ITT in a research report on Friday, August 7th. Finally, Robert W. Baird set a $246.00 target price on ITT in a research report on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $244.82.

ITT Stock Up 4.2%

The stock has a 50 day moving average price of $200.19 and a 200 day moving average price of $199.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.26. The company has a market capitalization of $18.09 billion, a P/E ratio of 39.68, a PEG ratio of 1.64 and a beta of 1.27.

ITT (NYSE:ITT - Get Free Report) last released its earnings results 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. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.39 billion. ITT had a net margin of 8.90% and a return on equity of 15.90%. The company's quarterly revenue was up 51.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.64 earnings per share. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Equities research analysts forecast that ITT Inc. will post 8.25 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors 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 dividend yield of 0.8%. The ex-dividend date is Tuesday, September 8th. ITT's dividend payout ratio is presently 30.20%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in shares of ITT by 20,258.6% in the second quarter. California State Teachers Retirement System now owns 20,565,458 shares of the conglomerate's stock valued at $4,067,025,000 after purchasing an additional 20,464,442 shares in the last quarter. BlackRock Inc. purchased a new stake in ITT during the 2nd quarter worth about $1,715,593,000. Northwestern Mutual Wealth Management Co. boosted its stake in ITT by 55,929.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate's stock worth $263,458,000 after purchasing an additional 1,515,695 shares during the period. Findlay Park Partners LLP bought a new position in ITT in the 2nd quarter worth about $276,395,000. Finally, Norges Bank purchased a new position in ITT during the 4th quarter valued at about $194,884,000. 91.59% of the stock is owned by institutional investors.

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.

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