SIR Capital Management L.P. Takes $4 Million Position in ITT Inc. $ITT

SIR Capital Management L.P. acquired a new position in ITT Inc. (NYSE:ITT – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 20,200 shares of the conglomerate’s stock, valued at approximately $3,995,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in ITT in the second quarter valued at approximately $23,857,000. The Manufacturers Life Insurance Company purchased a new position in ITT during the 2nd quarter worth approximately $9,563,000. Cibc World Market Inc. acquired a new stake in ITT during the 2nd quarter valued at approximately $16,122,000. Sanctuary Advisors LLC acquired a new stake in ITT during the 2nd quarter valued at approximately $962,000. Finally, PEAK6 LLC purchased a new stake in shares of ITT in the 2nd quarter valued at $7,755,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

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ITT Stock Down 1.5%

Shares of ITT opened at $204.93 on Tuesday. The firm has a market cap of $18.32 billion, a P/E ratio of 40.18, a PEG ratio of 1.70 and a beta of 1.27. ITT Inc. has a 12 month low of $166.96 and a 12 month high of $230.32. The stock’s 50 day moving average is $199.21 and its two-hundred day moving average is $199.47. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60.

ITT (NYSE:ITT – Get Free Report) last announced its earnings results on Thursday, August 6th. The conglomerate reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.16. ITT had a return on equity of 15.90% and a net margin of 8.90%.The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the company posted $1.64 EPS. The business’s quarterly revenue was up 51.5% on a year-over-year basis. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Analysts predict that ITT Inc. will post 8.25 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th will be given a $0.386 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. ITT’s dividend payout ratio (DPR) is 30.20%.

Insider Activity

In other news, CAO Mesa Graziano Cheryl De sold 700 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $214.54, for a total transaction of $150,178.00. Following the completion of the sale, the chief accounting officer owned 7,159 shares of the company’s stock, valued at $1,535,891.86. The trade was a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ITT has been the subject of several recent research reports. Citigroup raised their target price on shares of ITT from $254.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Barclays upped their price target on shares of ITT from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Wolfe Research raised ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 price target on the stock in a research report on Thursday, July 9th. DA Davidson lifted their price objective on ITT from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings cut ITT from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.08.

Read Our Latest Stock Report on ITT

About ITT

(Free Report)

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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