Freestone Grove Partners LP Buys New Position in ITT Inc. $ITT

Freestone Grove Partners LP acquired a new stake in ITT Inc. (NYSE:ITT) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 76,153 shares of the conglomerate’s stock, valued at approximately $15,060,000.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in ITT during the 2nd quarter worth $1,715,593,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of ITT by 55,929.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate’s stock valued at $263,458,000 after acquiring an additional 1,515,695 shares in the last quarter. Findlay Park Partners LLP purchased a new stake in shares of ITT during the second quarter worth about $276,395,000. Norges Bank acquired a new position in shares of ITT in the fourth quarter worth about $194,884,000. Finally, Jupiter Topco LLC purchased a new position in ITT in the second quarter valued at about $127,872,000. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Price Performance

Shares of NYSE ITT opened at $207.90 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $18.59 billion, a price-to-earnings ratio of 40.77, a price-to-earnings-growth ratio of 1.72 and a beta of 1.27. ITT Inc. has a twelve month low of $166.96 and a twelve month high of $230.32. The business has a 50 day simple moving average of $200.06 and a 200-day simple moving average of $199.68.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.16. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.39 billion. ITT had a return on equity of 15.90% and a net margin of 8.90%.The firm’s revenue for the quarter was up 51.5% on a year-over-year basis. During the same period last year, the business posted $1.64 earnings per share. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. As a group, equities research analysts expect that ITT Inc. will post 8.25 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th will be given a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 8th. ITT’s dividend payout ratio (DPR) is presently 30.20%.

Insider Activity at ITT

In other news, CAO Mesa Graziano Cheryl De sold 700 shares of ITT stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $214.54, for a total value of $150,178.00. Following the completion of the transaction, the chief accounting officer directly owned 7,159 shares of the company’s stock, valued at approximately $1,535,891.86. The trade was a 8.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ITT. Wolfe Research upgraded ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 price objective on the stock in a report on Thursday, July 9th. Stifel Nicolaus upped their price target on shares of ITT from $246.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 20th. Wall Street Zen lowered shares of ITT from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Citigroup boosted their target price on shares of ITT from $254.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, KeyCorp increased their price target on shares of ITT from $250.00 to $263.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $241.08.

ITT Company Profile

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.