VIRGINIA RETIREMENT SYSTEMS ET Al reduced its stake in ITT Inc. (NYSE:ITT – Free Report) by 12.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,258 shares of the conglomerate’s stock after selling 2,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in ITT were worth $3,685,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of ITT in the 2nd quarter valued at about $1,715,593,000. Findlay Park Partners LLP bought a new stake in shares of ITT in the second quarter valued at about $276,395,000. Bank of America Corp DE acquired a new position in shares of ITT during the second quarter worth about $173,436,000. Jupiter Topco LLC acquired a new position in shares of ITT during the second quarter worth about $127,872,000. Finally, Bank of New York Mellon Corp bought a new position in shares of ITT during the second quarter worth about $119,853,000. 91.59% of the stock is owned by institutional investors and hedge funds.
ITT Stock Up 0.0%
NYSE:ITT opened at $198.54 on Monday. ITT Inc. has a twelve month low of $166.96 and a twelve month high of $230.32. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 1.62 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $201.70 and its two-hundred day moving average price is $198.85.
ITT (NYSE:ITT – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, beating the consensus estimate of $1.92 by $0.16. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.39 billion. ITT had a return on equity of 15.90% and a net margin of 8.90%. The firm’s revenue for the quarter was up 51.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 EPS. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Equities research analysts expect that ITT Inc. will post 8.25 earnings per share for the current fiscal year.
ITT Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th were given a $0.3860 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 8th. ITT’s dividend payout ratio (DPR) is 30.20%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. BMO Capital Markets reissued an “outperform” rating and issued a $273.00 target price on shares of ITT in a research report on Friday, August 7th. Citigroup upped their price target on ITT from $254.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. DA Davidson raised their price target on shares of ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. KeyCorp lifted their price objective on shares of ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Stifel Nicolaus set a $256.00 price target on shares of ITT in a research report on Monday, October 19th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $260.22.
Get Our Latest Stock Report on ITT
Insider Transactions at ITT
In other news, CEO Luca Savi acquired 5,019 shares of the stock in a transaction dated Monday, August 31st. The shares were bought at an average cost of $199.56 per share, for a total transaction of $1,001,591.64. Following the purchase, the chief executive officer directly owned 267,373 shares of the company’s stock, valued at approximately $53,356,955.88. This trade represents a 1.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Graziano De sold 700 shares of the company’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 directly owned 7,159 shares in the company, valued at approximately $1,535,891.86. The trade was a 8.91% 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 Company Profile
ITT Inc (NYSE: ITT) is a global industrial manufacturer that designs and produces highly engineered components and technology solutions for transportation, industrial, energy, aerospace, defense and other specialized markets. The company serves original equipment manufacturers, distributors and end users through operations in North America, Europe, Asia and other international markets.
ITT operates through three primary business segments. Motion Technologies develops brake pads, shock absorbers, sealing products and other engineered components used in automotive, rail and related transportation applications.
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