2,700 ITT Inc. $ITT Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its stake in shares of ITT Inc. (NYSE:ITT) by 12.9% in the third quarter, HoldingsChannel reports. The firm owned 18,258 shares of the conglomerate’s stock after selling 2,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in ITT were worth $3,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of ITT in the second quarter valued at about $1,715,593,000. Findlay Park Partners LLP bought a new stake in shares of ITT during the 2nd quarter worth about $276,395,000. Bank of America Corp DE acquired a new position in ITT in the 2nd quarter valued at about $173,436,000. Jupiter Topco LLC acquired a new position in ITT in the 2nd quarter valued at about $127,872,000. Finally, Bank of New York Mellon Corp bought a new position in ITT in the 2nd quarter valued at about $119,853,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ITT shares. DA Davidson raised their price objective on shares of ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $273.00 target price on shares of ITT in a research report on Friday, August 7th. Weiss Ratings lowered ITT from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Stifel Nicolaus set a $256.00 price target on ITT in a report on Monday, October 19th. Finally, KeyCorp boosted their price target on ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, ITT has a consensus rating of “Moderate Buy” and a consensus price target of $260.22.

ITT Price Performance

Shares of ITT stock opened at $198.54 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $17.75 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 1.62 and a beta of 1.25. ITT Inc. has a twelve month low of $166.96 and a twelve month high of $230.32. The company has a 50-day simple moving average of $201.70 and a two-hundred day simple moving average of $198.85.

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

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Tuesday, September 8th were given a dividend of $0.3860 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. ITT’s dividend payout ratio is currently 30.20%.

Insider Buying and Selling

In other news, CAO Graziano De sold 700 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $214.54, for a total transaction of $150,178.00. Following the completion of the sale, the chief accounting officer directly owned 7,159 shares in the company, valued at approximately $1,535,891.86. This represents a 8.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Luca Savi purchased 5,019 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was bought at an average price of $199.56 per share, for a total transaction of $1,001,591.64. Following the transaction, the chief executive officer directly owned 267,373 shares of the company’s stock, valued at $53,356,955.88. This trade represents a 1.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.88% of the company’s stock.

ITT Company Profile

ITT Inc (NYSE: ITT) is a global industrial manufacturer that designs and produces highly engineered components and technology solutions for transportation, industrial, energy, aerospace, defense and other specialized markets. The company serves original equipment manufacturers, distributors and end users through operations in North America, Europe, Asia and other international markets.

ITT operates through three primary business segments. Motion Technologies develops brake pads, shock absorbers, sealing products and other engineered components used in automotive, rail and related transportation applications.