ITT Inc. $ITT Shares Acquired by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System grew its stake in shares of ITT Inc. (NYSE:ITT) by 1.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 93,440 shares of the conglomerate’s stock after acquiring an additional 1,300 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in ITT were worth $14,654,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ITT. Cetera Investment Advisers raised its holdings in ITT by 6.2% during the 1st quarter. Cetera Investment Advisers now owns 6,652 shares of the conglomerate’s stock worth $859,000 after buying an additional 390 shares during the period. LPL Financial LLC increased its position in shares of ITT by 4.5% in the first quarter. LPL Financial LLC now owns 45,130 shares of the conglomerate’s stock worth $5,829,000 after acquiring an additional 1,938 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of ITT during the first quarter valued at approximately $609,000. US Bancorp DE lifted its position in shares of ITT by 1.8% in the 1st quarter. US Bancorp DE now owns 15,931 shares of the conglomerate’s stock valued at $2,058,000 after acquiring an additional 282 shares in the last quarter. Finally, Commerce Bank lifted its position in shares of ITT by 1.4% in the 1st quarter. Commerce Bank now owns 11,495 shares of the conglomerate’s stock valued at $1,485,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ITT. DA Davidson set a $190.00 target price on shares of ITT and gave the company a “buy” rating in a research note on Monday, August 4th. Citigroup boosted their price objective 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. Wall Street Zen upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. UBS Group upped their price target on shares of ITT from $168.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Finally, KeyCorp lifted their price objective on ITT from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.25.

ITT Price Performance

Shares of NYSE:ITT opened at $182.28 on Tuesday. The stock has a market capitalization of $14.22 billion, a P/E ratio of 30.28, a P/E/G ratio of 2.42 and a beta of 1.40. The business has a 50-day moving average of $180.37 and a two-hundred day moving average of $168.21. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $197.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.99.

ITT (NYSE:ITT) last posted 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. ITT had a return on equity of 18.96% and a net margin of 12.67%.The firm had revenue of $999.10 million during the quarter, compared to analyst estimates of $973.69 million. During the same period in the previous year, the company earned $1.46 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. On average, equities research analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

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

Insider Transactions at ITT

In other ITT news, CAO Mesa Graziano Cheryl De sold 238 shares of ITT stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $183.08, for a total value of $43,573.04. Following the transaction, the chief accounting officer directly owned 5,062 shares of the company’s stock, valued at $926,750.96. The trade was a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Emmanuel Caprais sold 5,500 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $185.23, for a total transaction of $1,018,765.00. Following the transaction, the chief financial officer directly owned 36,830 shares in the company, valued at $6,822,020.90. This trade represents a 12.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.47% of the company’s stock.

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.