Inspire Advisors LLC Acquires New Shares in ITT Inc. $ITT

Inspire Advisors LLC acquired a new position in shares of ITT Inc. (NYSE:ITT) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,759 shares of the conglomerate’s stock, valued at approximately $903,000.

A number of other hedge funds also recently added to or reduced their stakes in ITT. UMB Bank n.a. grew its position in shares of ITT by 11.4% during the second quarter. UMB Bank n.a. now owns 954 shares of the conglomerate’s stock worth $150,000 after acquiring an additional 98 shares during the last quarter. Mutual Advisors LLC grew its position in ITT by 3.5% in the 2nd quarter. Mutual Advisors LLC now owns 2,923 shares of the conglomerate’s stock worth $472,000 after purchasing an additional 98 shares during the last quarter. Clearstead Trust LLC increased its stake in shares of ITT by 40.0% in the second quarter. Clearstead Trust LLC now owns 350 shares of the conglomerate’s stock valued at $55,000 after purchasing an additional 100 shares during the period. AdvisorNet Financial Inc increased its stake in shares of ITT by 26.2% in the second quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate’s stock valued at $76,000 after purchasing an additional 101 shares during the period. Finally, Fullcircle Wealth LLC raised its holdings in shares of ITT by 6.5% during the second quarter. Fullcircle Wealth LLC now owns 1,777 shares of the conglomerate’s stock valued at $297,000 after buying an additional 109 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Price Performance

Shares of ITT stock opened at $182.18 on Wednesday. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $197.07. The company has a current ratio of 1.52, a quick ratio of 0.99 and a debt-to-equity ratio of 0.22. The stock has a market cap of $14.21 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40. The company’s 50-day moving average price is $179.92 and its two-hundred day moving average price is $165.92.

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

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be issued a $0.351 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. ITT’s dividend payout ratio is currently 23.26%.

Insiders Place Their Bets

In related news, CFO Emmanuel Caprais sold 5,500 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $185.23, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mesa Graziano Cheryl De sold 238 shares of ITT stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $183.08, for a total value of $43,573.04. Following the completion of the transaction, the chief accounting officer directly owned 5,062 shares in the company, valued at $926,750.96. This represents a 4.49% decrease in their position. The SEC filing for this sale provides additional information. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Bank of America increased their price objective on ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. KeyCorp lifted their price objective on shares of ITT from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Citigroup increased their target price on shares of ITT from $207.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. TD Cowen boosted their price target on shares of ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, DA Davidson set a $190.00 price objective on shares of ITT and gave the company a “buy” rating in a report on Monday, August 4th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.