TD Asset Management Inc Has $23.12 Million Stock Position in ITT Inc. $ITT

TD Asset Management Inc raised its stake in ITT Inc. (NYSE:ITT) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 147,394 shares of the conglomerate’s stock after buying an additional 7,194 shares during the quarter. TD Asset Management Inc owned about 0.19% of ITT worth $23,116,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. AdvisorNet Financial Inc increased its holdings in ITT by 26.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate’s stock worth $76,000 after purchasing an additional 101 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of ITT by 72.7% during the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate’s stock worth $103,000 after buying an additional 331 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of ITT by 341.1% during the first quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate’s stock worth $118,000 after buying an additional 706 shares in the last quarter. Quarry LP raised its position in ITT by 273.4% in the 1st quarter. Quarry LP now owns 926 shares of the conglomerate’s stock valued at $120,000 after buying an additional 678 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in ITT by 178.2% in the 1st quarter. Brooklyn Investment Group now owns 982 shares of the conglomerate’s stock valued at $127,000 after acquiring an additional 629 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ITT. DA Davidson set a $190.00 price target on shares of ITT and gave the stock a “buy” rating in a research note on Monday, August 4th. Citigroup reiterated a “buy” rating on shares of ITT in a research note on Thursday, October 9th. TD Cowen increased their price objective on shares of ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. UBS Group lifted their target price on ITT from $168.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Finally, KeyCorp upped their target price on ITT from $192.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.89.

ITT Trading Up 1.1%

Shares of NYSE:ITT opened at $172.83 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. The company has a 50-day simple moving average of $173.87 and a 200 day simple moving average of $156.70. The company has a market capitalization of $13.48 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 2.11 and a beta of 1.38. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $185.57.

ITT (NYSE:ITT) last issued its earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping the consensus estimate of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%.The company had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. During the same period in the previous year, the company posted $1.49 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Sell-side analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were paid a $0.351 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. ITT’s dividend payout ratio is 22.01%.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the completion of the sale, the chief executive officer directly owned 297,536 shares in the company, valued at $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

ITT Company Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.