Ethic Inc. Boosts Position in ITT Inc. $ITT

Ethic Inc. boosted its position in shares of ITT Inc. (NYSE:ITT) by 7.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,126 shares of the conglomerate’s stock after purchasing an additional 465 shares during the quarter. Ethic Inc.’s holdings in ITT were worth $1,126,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its position in ITT by 2,777.8% during the second quarter. Cullen Frost Bankers Inc. now owns 518 shares of the conglomerate’s stock worth $81,000 after purchasing an additional 500 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of ITT in the second quarter valued at $1,593,000. Allianz Asset Management GmbH lifted its position in shares of ITT by 12.2% in the second quarter. Allianz Asset Management GmbH now owns 62,043 shares of the conglomerate’s stock valued at $9,730,000 after acquiring an additional 6,769 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of ITT by 3.5% in the second quarter. Mutual Advisors LLC now owns 2,923 shares of the conglomerate’s stock valued at $472,000 after acquiring an additional 98 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of ITT in the second quarter valued at $21,894,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on ITT shares. UBS Group upped their price objective on ITT from $168.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. DA Davidson set a $190.00 price objective on ITT and gave the company a “buy” rating in a research report on Monday, August 4th. Bank of America upped their price objective on ITT from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Weiss Ratings restated a “buy (b)” rating on shares of ITT in a research report on Saturday. Finally, Stifel Nicolaus upped their price objective on ITT from $202.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, ITT currently has a consensus rating of “Moderate Buy” and an average price target of $191.00.

ITT Stock Performance

NYSE ITT opened at $176.59 on Monday. The business’s 50-day moving average price is $174.52 and its 200 day moving average price is $159.18. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $185.57. The company has a market capitalization of $13.77 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.38. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24.

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

ITT Announces Dividend

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

Insider Buying and Selling

In other ITT news, CEO Luca Savi sold 36,385 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was 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 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 through this hyperlink. 0.47% of the stock is 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.