ITT Inc. $ITT Stock Holdings Raised by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS raised its stake in ITT Inc. (NYSE:ITT) by 4.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 17,900 shares of the conglomerate’s stock after purchasing an additional 800 shares during the period. KLP Kapitalforvaltning AS’s holdings in ITT were worth $2,807,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc boosted its holdings in shares of ITT by 26.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate’s stock valued at $76,000 after buying an additional 101 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of ITT by 72.7% in the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate’s stock valued at $103,000 after buying an additional 331 shares during the period. CX Institutional acquired a new position in shares of ITT in the 1st quarter valued at about $107,000. Geneos Wealth Management Inc. boosted its holdings in shares of ITT by 341.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate’s stock valued at $118,000 after buying an additional 706 shares during the period. Finally, Quarry LP boosted its holdings in shares of ITT by 273.4% in the 1st quarter. Quarry LP now owns 926 shares of the conglomerate’s stock valued at $120,000 after buying an additional 678 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Stock Down 1.2%

ITT stock opened at $170.89 on Friday. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $185.57. The company’s 50 day simple moving average is $173.24 and its 200-day simple moving average is $155.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99. The firm has a market capitalization of $13.33 billion, a P/E ratio of 26.87, a P/E/G ratio of 2.11 and a beta of 1.38.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 EPS 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 firm had revenue of $972.40 million for the quarter, compared to the consensus estimate of $947.48 million. During the same period in the previous year, the firm posted $1.49 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, equities research analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were given a dividend of $0.351 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. ITT’s payout ratio is presently 22.01%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ITT. TD Cowen boosted their target price on shares of ITT from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. UBS Group boosted their target price on shares of ITT from $168.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Citigroup reissued a “buy” rating on shares of ITT in a research note on Thursday. Stifel Nicolaus boosted their price target on shares of ITT from $197.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, DA Davidson set a $190.00 price target on shares of ITT and gave the stock a “buy” rating in a research report on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $190.89.

Insider Buying and Selling

In related news, CEO Luca Savi sold 36,385 shares of the business’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 transaction of $5,994,792.60. Following the transaction, the chief executive officer directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

ITT 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.