Meyer Handelman Co. Sells 100 Shares of ITT Inc. $ITT

Meyer Handelman Co. lessened its position in ITT Inc. (NYSE:ITT) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,210 shares of the conglomerate’s stock after selling 100 shares during the quarter. Meyer Handelman Co.’s holdings in ITT were worth $974,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc grew its position in ITT by 3,513.3% in the 1st quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate’s stock worth $70,000 after purchasing an additional 527 shares during the last quarter. AdvisorNet Financial Inc grew its position in ITT by 26.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate’s stock worth $76,000 after purchasing an additional 101 shares during the last quarter. Farther Finance Advisors LLC grew its position in ITT by 72.7% in the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate’s stock worth $103,000 after purchasing an additional 331 shares during the last quarter. CX Institutional acquired a new stake in ITT in the 1st quarter worth $107,000. Finally, UMB Bank n.a. grew its position in ITT by 84.5% in the 1st quarter. UMB Bank n.a. now owns 856 shares of the conglomerate’s stock worth $111,000 after purchasing an additional 392 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ITT. UBS Group lifted their target price on shares of ITT from $168.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. DA Davidson set a $190.00 target price on shares of ITT and gave the company a “buy” rating in a research report on Monday, August 4th. KeyCorp lifted their target price on shares of ITT from $192.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Stifel Nicolaus lifted their target price on shares of ITT from $197.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Citigroup reiterated a “buy” rating and set a $186.00 target price (up from $159.00) on shares of ITT in a research report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $188.11.

Insider Transactions at ITT

In other ITT news, CEO Luca Savi sold 36,385 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the sale, the chief executive officer directly owned 297,536 shares of the company’s stock, valued at approximately $49,022,031.36. This represents a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

ITT Stock Up 1.0%

Shares of NYSE ITT opened at $176.92 on Friday. The stock has a market cap of $13.80 billion, a P/E ratio of 27.82, a P/E/G ratio of 2.16 and a beta of 1.39. The firm has a 50 day moving average price of $169.86 and a 200 day moving average price of $152.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $185.57.

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

ITT Announces Dividend

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

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.