J. L. Bainbridge & Co. Inc. Purchases New Position in ITT Inc. $ITT

J. L. Bainbridge & Co. Inc. purchased a new stake in shares of ITT Inc. (NYSE:ITT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,527 shares of the conglomerate’s stock, valued at approximately $239,000.

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

Insider Transactions at ITT

In other news, CAO Mesa Graziano Cheryl De sold 238 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $183.08, for a total transaction of $43,573.04. Following the transaction, the chief accounting officer directly owned 5,062 shares of the company’s stock, valued at approximately $926,750.96. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Emmanuel Caprais sold 5,500 shares of ITT stock in a transaction that occurred 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 sale, the chief financial officer directly owned 36,830 shares of the company’s stock, valued at $6,822,020.90. This represents a 12.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by corporate insiders.

ITT Price Performance

ITT opened at $178.76 on Friday. The business has a fifty day moving average of $180.13 and a 200 day moving average of $166.54. The stock has a market cap of $13.94 billion, a P/E ratio of 29.70, a PEG ratio of 2.42 and a beta of 1.40. The company has a quick ratio of 0.99, a current ratio of 1.52 and a debt-to-equity ratio of 0.22. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $197.07.

ITT (NYSE:ITT) last released its earnings results on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.11. The business had revenue of $999.10 million during 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 business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. 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 year.

ITT Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group increased their price target on shares of ITT from $168.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. TD Cowen upped their price objective on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of ITT in a report on Wednesday, October 8th. DA Davidson set a $190.00 price target on ITT and gave the company a “buy” rating in a report on Monday, August 4th. Finally, Citigroup raised their price target on ITT from $207.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, ITT currently has a consensus 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.