ITT (NYSE:ITT) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• ITT shares rose above their 200-day moving average, reaching $203.00 and last trading near $202.53, compared with a 200-day average of $198.77.
• Analysts remain broadly positive, with eight Buy ratings and one Hold rating; the stock has an average “Moderate Buy” rating and a consensus price target of $260.22.
• ITT reported quarterly EPS of $2.08, beating estimates by $0.16, while revenue rose 51.5% year over year to $1.47 billion. The company also declared a quarterly dividend of $0.386 per share.

ITT Inc. (NYSE:ITT - Get Free Report) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $198.77 and traded as high as $203.00. ITT shares last traded at $202.5330, with a volume of 554,547 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ITT shares. Wolfe Research started coverage on ITT in a research note on Tuesday, September 15th. They issued an "outperform" rating and a $272.00 target price for the company. Stifel Nicolaus set a $256.00 price target on ITT in a research note on Monday, October 19th. DA Davidson raised their price target on ITT from $255.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Citigroup lifted their price objective on ITT from $254.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Weiss Ratings cut ITT from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, October 23rd. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, ITT presently has an average rating of "Moderate Buy" and an average target price of $260.22.

ITT Price Performance

The company has a 50 day moving average of $201.90 and a 200 day moving average of $198.77. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60. The firm has a market cap of $18.11 billion, a price-to-earnings ratio of 39.71, a P/E/G ratio of 1.60 and a beta of 1.25.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Thursday, August 6th. The conglomerate reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.16. ITT had a return on equity of 15.90% and a net margin of 8.90%. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. The company'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. Equities research analysts predict that ITT Inc. will post 8.25 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th were given a $0.3860 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 8th. ITT's payout ratio is currently 30.20%.

Insider Buying and Selling at ITT

In other ITT news, CEO Luca Savi bought 5,019 shares of ITT stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average price of $199.56 per share, for a total transaction of $1,001,591.64. Following the completion of the acquisition, the chief executive officer owned 267,373 shares of the company's stock, valued at $53,356,955.88. This trade represents a 1.91% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Graziano De sold 700 shares of ITT stock in a transaction on Friday, August 7th. The shares were sold at an average price of $214.54, for a total transaction of $150,178.00. Following the completion of the sale, the chief accounting officer owned 7,159 shares in the company, valued at $1,535,891.86. The trade was a 8.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.88% of the company's stock.

Hedge Funds Weigh In On ITT

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of ITT during the 2nd quarter worth about $1,715,593,000. Findlay Park Partners LLP acquired a new position in ITT in the 2nd quarter valued at about $276,395,000. Bank of America Corp DE acquired a new position in ITT in the 2nd quarter valued at about $173,436,000. Jupiter Topco LLC bought a new position in ITT in the 2nd quarter valued at about $127,872,000. Finally, Bank of New York Mellon Corp bought a new position in ITT in the 2nd quarter valued at about $119,853,000. Institutional investors own 91.59% of the company's stock.

About ITT

ITT Inc NYSE: ITT is a global industrial manufacturer that designs and produces highly engineered components and technology solutions for transportation, industrial, energy, aerospace, defense and other specialized markets. The company serves original equipment manufacturers, distributors and end users through operations in North America, Europe, Asia and other international markets.

ITT operates through three primary business segments. Motion Technologies develops brake pads, shock absorbers, sealing products and other engineered components used in automotive, rail and related transportation applications.

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