AdvisorNet Financial Inc Raises Holdings in ITT Inc. $ITT

AdvisorNet Financial Inc raised its position in shares of ITT Inc. (NYSE:ITT) by 26.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 487 shares of the conglomerate’s stock after buying an additional 101 shares during the period. AdvisorNet Financial Inc’s holdings in ITT were worth $76,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jump Financial LLC boosted its position in shares of ITT by 145.8% during the first quarter. Jump Financial LLC now owns 17,152 shares of the conglomerate’s stock worth $2,215,000 after buying an additional 10,173 shares during the period. GSA Capital Partners LLP purchased a new position in ITT in the first quarter valued at $609,000. XTX Topco Ltd purchased a new position in ITT in the first quarter valued at $1,214,000. Charles Schwab Investment Management Inc. boosted its holdings in ITT by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 522,212 shares of the conglomerate’s stock valued at $67,449,000 after purchasing an additional 4,905 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in ITT in the first quarter valued at $273,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Trading Up 1.0%

Shares of ITT stock opened at $176.92 on Friday. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $185.57. The business’s fifty day moving average is $169.86 and its two-hundred day moving average is $152.38. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The firm has a market cap of $13.80 billion, a PE ratio of 27.82, a P/E/G ratio of 2.16 and a beta of 1.39.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.02. The business had revenue of $972.40 million for the quarter, compared to analysts’ expectations of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.351 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. ITT’s dividend payout ratio (DPR) is currently 22.01%.

Analysts Set New Price Targets

A number of research firms have recently commented on ITT. DA Davidson set a $190.00 target price on ITT and gave the stock a “buy” rating in a research report on Monday, August 4th. UBS Group raised their price target on ITT from $168.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. KeyCorp boosted their target price on ITT from $192.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Stifel Nicolaus boosted their target price on ITT from $197.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Bank of America boosted their target price on ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $188.11.

Insider Buying and Selling at ITT

In other news, CEO Luca Savi sold 36,385 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the completion of the sale, the chief executive officer directly owned 297,536 shares in the company, valued at $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

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.