Citizens Financial Group Inc. RI bought a new stake in ITT Inc. (NYSE:ITT – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,410 shares of the conglomerate’s stock, valued at approximately $478,000.
Several other hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of ITT during the second quarter worth about $1,715,593,000. Northwestern Mutual Wealth Management Co. raised its stake 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 valued at $263,458,000 after acquiring an additional 1,515,695 shares during the last quarter. Norges Bank purchased a new stake in ITT during the 4th quarter valued at approximately $194,884,000. 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 acquiring an additional 620,217 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in ITT during the 2nd quarter worth approximately $119,853,000. Institutional investors and hedge funds own 91.59% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have weighed in on ITT. Citigroup boosted their target price on ITT from $254.00 to $267.00 and gave the company a “buy” rating in a report on Friday, August 7th. Robert W. Baird set a $246.00 price target on ITT in a report on Thursday, May 7th. BMO Capital Markets reaffirmed an “outperform” rating and set a $273.00 price target on shares of ITT in a report on Friday, August 7th. Stifel Nicolaus lifted their price objective 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. Finally, Wall Street Zen cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, ITT presently has a consensus rating of “Moderate Buy” and an average target price of $241.08.
Insiders Place Their Bets
In related news, CAO Mesa Graziano Cheryl De sold 700 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $214.54, for a total transaction of $150,178.00. Following the transaction, the chief accounting officer owned 7,159 shares of the company’s stock, valued at $1,535,891.86. This represents a 8.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.88% of the stock is owned by corporate insiders.
ITT Price Performance
Shares of NYSE:ITT opened at $213.34 on Thursday. ITT Inc. has a 52 week low of $164.00 and a 52 week high of $230.32. The company has a 50-day moving average price of $198.17 and a 200 day moving average price of $198.99. The company has a market cap of $19.07 billion, a P/E ratio of 41.83, a PEG ratio of 1.78 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60.
ITT (NYSE:ITT – Get Free Report) last released its earnings results on Thursday, August 6th. The conglomerate reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.16. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.39 billion. ITT had a return on equity of 15.90% and a net margin of 8.90%.The firm’s quarterly revenue was up 51.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 EPS. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Research analysts predict that ITT Inc. will post 8.25 earnings per share for the current 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 $0.386 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.7%. ITT’s payout ratio is 30.20%.
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.
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