King Luther Capital Management Corp Trims Stake in ITT Inc. $ITT

King Luther Capital Management Corp reduced its stake in ITT Inc. (NYSE:ITT) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,206 shares of the conglomerate’s stock after selling 956 shares during the quarter. King Luther Capital Management Corp owned approximately 0.07% of ITT worth $8,658,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new position in shares of ITT in the second quarter worth about $34,000. NewSquare Capital LLC increased its holdings in ITT by 37.2% in the 2nd quarter. NewSquare Capital LLC now owns 454 shares of the conglomerate’s stock worth $71,000 after acquiring an additional 123 shares in the last quarter. AdvisorNet Financial Inc raised its stake 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 acquiring an additional 101 shares during the period. Assetmark Inc. lifted its holdings in ITT by 31.7% during the second quarter. Assetmark Inc. now owns 503 shares of the conglomerate’s stock valued at $79,000 after purchasing an additional 121 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in shares of ITT by 2,777.8% in 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 during the period. Institutional investors own 91.59% of the company’s stock.

Insider Buying and Selling at ITT

In other ITT news, CFO Emmanuel Caprais sold 5,500 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $185.23, for a total transaction of $1,018,765.00. Following the completion of the transaction, the chief financial officer owned 36,830 shares in the company, valued at $6,822,020.90. This trade represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mesa Graziano Cheryl De sold 238 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $183.08, for a total transaction of $43,573.04. Following the completion of the sale, the chief accounting officer owned 5,062 shares in the company, valued at approximately $926,750.96. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by company insiders.

ITT Price Performance

NYSE:ITT opened at $188.34 on Monday. The business’s 50-day moving average is $177.72 and its 200 day moving average is $163.53. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $197.07. The company has a market capitalization of $14.69 billion, a P/E ratio of 31.29, a P/E/G ratio of 2.42 and a beta of 1.40. The company has a current ratio of 1.52, a quick ratio of 0.99 and a debt-to-equity ratio of 0.22.

ITT (NYSE:ITT) last released its quarterly earnings data on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.11. The business had revenue of $999.10 million for the quarter, compared to the consensus estimate of $973.69 million. ITT had a return on equity of 18.96% and a net margin of 12.67%.The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. On average, equities research analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be paid a dividend of $0.351 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. ITT’s dividend payout ratio is presently 23.26%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ITT shares. Stifel Nicolaus raised their price objective on shares of ITT from $202.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, October 20th. TD Cowen raised their price target on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Wall Street Zen upgraded ITT from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Bank of America increased their target price on ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Finally, Cowen reissued a “buy” rating on shares of ITT in a research note on Thursday, October 2nd. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $201.25.

About ITT

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.