Ethic Inc. Boosts Position in ITT Inc. $ITT

Ethic Inc. increased its holdings in shares of ITT Inc. (NYSE:ITT) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,126 shares of the conglomerate’s stock after purchasing an additional 465 shares during the quarter. Ethic Inc.’s holdings in ITT were worth $1,126,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. AdvisorNet Financial Inc lifted its stake in ITT by 26.2% in the second 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 last quarter. Cullen Frost Bankers Inc. lifted its stake in ITT by 2,777.8% in the second quarter. Cullen Frost Bankers Inc. now owns 518 shares of the conglomerate’s stock valued at $81,000 after buying an additional 500 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in ITT by 341.1% in the first 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 last quarter. Quarry LP lifted its stake in ITT by 273.4% in the first quarter. Quarry LP now owns 926 shares of the conglomerate’s stock valued at $120,000 after buying an additional 678 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in ITT by 178.2% in the first quarter. Brooklyn Investment Group now owns 982 shares of the conglomerate’s stock valued at $127,000 after buying an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Up 0.6%

Shares of ITT stock opened at $176.59 on Monday. The business’s fifty day moving average price is $174.52 and its 200 day moving average price is $159.18. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $185.57. The firm has a market capitalization of $13.77 billion, a PE ratio of 27.76, a P/E/G ratio of 2.17 and a beta of 1.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99.

ITT (NYSE:ITT) 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 return on equity of 18.08% and a net margin of 13.99%.The firm had revenue of $972.40 million for the quarter, compared to analyst estimates of $947.48 million. During the same quarter in the prior year, the company posted $1.49 earnings per share. ITT’s quarterly 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, sell-side analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ITT shares. Cowen reiterated a “buy” rating on shares of ITT in a research note on Thursday, October 2nd. Bank of America boosted their price objective on ITT from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. KeyCorp boosted their price objective on ITT from $192.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. TD Cowen boosted their price objective on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, UBS Group boosted their target price on ITT from $168.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.00.

Insiders Place Their Bets

In related news, CEO Luca Savi sold 36,385 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the transaction, the chief executive officer owned 297,536 shares of the company’s stock, valued at $49,022,031.36. This represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

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.