Vestcor Inc purchased a new position in shares of ITT Inc. (NYSE:ITT – Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,287 shares of the conglomerate’s stock, valued at approximately $917,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Capital International Investors lifted its position in ITT by 0.5% during the 3rd quarter. Capital International Investors now owns 8,538,229 shares of the conglomerate’s stock worth $1,526,281,000 after buying an additional 38,433 shares in the last quarter. Vanguard Group Inc. lifted its position in ITT by 7.9% during the 4th quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate’s stock worth $1,467,976,000 after buying an additional 620,217 shares in the last quarter. Geode Capital Management LLC lifted its position in ITT by 15.6% during the 4th quarter. Geode Capital Management LLC now owns 1,614,929 shares of the conglomerate’s stock worth $280,267,000 after buying an additional 217,360 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in ITT by 55,929.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate’s stock worth $263,458,000 after buying an additional 1,515,695 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in ITT by 11.2% during the 3rd quarter. Alliancebernstein L.P. now owns 1,188,219 shares of the conglomerate’s stock worth $212,406,000 after buying an additional 119,601 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.
Insider Buying and Selling
In related news, CAO Mesa Graziano Cheryl De sold 200 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the sale, the chief accounting officer directly owned 7,859 shares in the company, valued at $1,637,894.19. This trade represents a 2.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lori B. Marino sold 7,123 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $208.27, for a total value of $1,483,507.21. Following the sale, the insider directly owned 8,729 shares of the company’s stock, valued at approximately $1,817,988.83. The trade was a 44.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.88% of the company’s stock.
ITT Stock Performance
ITT (NYSE:ITT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.21. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.12 billion. ITT had a net margin of 10.80% and a return on equity of 16.83%. ITT’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period last year, the company posted $1.45 EPS. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. As a group, sell-side analysts forecast that ITT Inc. will post 7.9 earnings per share for the current year.
ITT Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 8th will be given a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, June 8th. ITT’s dividend payout ratio (DPR) is currently 27.16%.
Wall Street Analysts Forecast Growth
ITT has been the topic of a number of research reports. Robert W. Baird set a $246.00 target price on shares of ITT in a research report on Thursday, May 7th. KeyCorp upped their target price on shares of ITT from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group initiated coverage on shares of ITT in a research report on Tuesday, March 31st. They set a “buy” rating and a $270.00 target price on the stock. Weiss Ratings downgraded shares of ITT from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Finally, DA Davidson upped their target price on shares of ITT from $245.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $234.91.
Read Our Latest Stock Analysis on ITT
ITT 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.
Recommended Stories
- Five stocks we like better than ITT
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT – Free Report).
Receive News & Ratings for ITT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT and related companies with MarketBeat.com's FREE daily email newsletter.
