ITT Inc. $ITT Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in ITT Inc. (NYSE:ITT) by 7.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,831 shares of the conglomerate’s stock after selling 705 shares during the period. State of Alaska Department of Revenue’s holdings in ITT were worth $1,384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jump Financial LLC increased its stake in shares of ITT by 145.8% in 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 last quarter. GSA Capital Partners LLP bought a new stake in shares of ITT in the first quarter worth $609,000. XTX Topco Ltd bought a new stake in shares of ITT in the first quarter worth $1,214,000. Charles Schwab Investment Management Inc. increased its stake in shares of ITT by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 522,212 shares of the conglomerate’s stock worth $67,449,000 after buying an additional 4,905 shares during the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of ITT in the first quarter worth $273,000. Institutional investors own 91.59% of the company’s stock.

Insider Buying and Selling at ITT

In related news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction dated 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 in the company, valued at $49,022,031.36. The trade was a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

ITT Stock Performance

ITT stock opened at $181.04 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.23 and a beta of 1.38. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $185.57. The stock’s fifty day moving average is $171.92 and its two-hundred day moving average is $154.09.

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

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, September 2nd. ITT’s payout ratio is currently 22.01%.

Analysts Set New Price Targets

A number of research firms have commented on ITT. Cowen reaffirmed a “buy” rating on shares of ITT in a report on Thursday. TD Cowen lifted their price objective on shares of ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus lifted their price objective on shares of ITT from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, August 1st. UBS Group lifted their price objective on shares of ITT from $168.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ITT in a report on Saturday, September 27th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, ITT has an average rating of “Moderate Buy” and an average target price of $190.89.

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.