Corient Private Wealth LLC lessened its stake in ITT Inc. (NYSE:ITT – Free Report) by 21.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,350 shares of the conglomerate’s stock after selling 2,608 shares during the quarter. Corient Private Wealth LLC’s holdings in ITT were worth $1,633,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ITT. Elyxium Wealth LLC purchased a new stake in ITT in the 4th quarter worth $29,000. Bayban purchased a new position in shares of ITT during the fourth quarter valued at about $31,000. Parkside Financial Bank & Trust increased its holdings in shares of ITT by 62.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 76 shares during the last quarter. Entrust Financial LLC purchased a new stake in shares of ITT in the fourth quarter worth about $36,000. Finally, Triumph Capital Management purchased a new stake in shares of ITT in the third quarter worth about $37,000. Institutional investors own 91.59% of the company’s stock.
ITT Stock Performance
ITT stock opened at $197.53 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.53 and a quick ratio of 1.01. The firm has a market capitalization of $17.66 billion, a P/E ratio of 34.84, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. ITT Inc. has a 1-year low of $154.29 and a 1-year high of $225.26. The company’s 50-day moving average is $200.11 and its 200 day moving average is $193.73.
ITT Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.386 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 8th. ITT’s payout ratio is currently 27.16%.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. BMO Capital Markets started coverage on ITT in a report on Friday, March 27th. They set an “outperform” rating and a $233.00 price target for the company. Robert W. Baird set a $246.00 target price on ITT in a research report on Thursday, May 7th. DA Davidson raised their target price on shares of ITT from $245.00 to $255.00 and gave the company a “buy” rating in a report on Monday, May 11th. Wall Street Zen cut shares of ITT from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings downgraded shares of ITT from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating and one has issued 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 $234.91.
Read Our Latest Research Report on ITT
Insiders Place Their Bets
In related news, insider Lori B. Marino sold 7,123 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $208.27, for a total value of $1,483,507.21. Following the transaction, the insider owned 8,729 shares of the company’s stock, valued at $1,817,988.83. This trade represents a 44.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mesa Graziano Cheryl De sold 200 shares of ITT stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $208.41, for a total transaction of $41,682.00. Following the sale, the chief accounting officer owned 7,859 shares of the company’s stock, valued at $1,637,894.19. The trade was a 2.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is currently owned by insiders.
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.
Further Reading
- Five stocks we like better than ITT
- NextEra’s Dominion Deal Could Put It at the Center of the AI Power Race
- Amazon Could Be About to Reap the Rewards of a Software Spending Boom
- Best Buy’s Turnaround Is Gaining Traction, But Wall Street Still Needs Proof
- AI Fears Hit Nebius Stock, But Has the Growth Thesis Changed?
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.
