ITT Inc. $ITT Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC lowered its stake in ITT Inc. (NYSE:ITT) by 24.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,025 shares of the conglomerate’s stock after selling 668 shares during the quarter. HB Wealth Management LLC’s holdings in ITT were worth $318,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Signaturefd LLC lifted its position in shares of ITT by 33.7% in the second quarter. Signaturefd LLC now owns 1,992 shares of the conglomerate’s stock valued at $312,000 after acquiring an additional 502 shares in the last quarter. MKT Advisors LLC acquired a new stake in ITT during the second quarter worth approximately $206,000. Public Employees Retirement System of Ohio boosted its position in ITT by 11.5% during the second quarter. Public Employees Retirement System of Ohio now owns 66,209 shares of the conglomerate’s stock worth $10,384,000 after acquiring an additional 6,848 shares during the last quarter. Ballentine Partners LLC grew its stake in ITT by 14.4% in the 2nd quarter. Ballentine Partners LLC now owns 1,865 shares of the conglomerate’s stock worth $292,000 after acquiring an additional 235 shares during the period. Finally, Covea Finance raised its holdings in ITT by 88.5% in the 2nd quarter. Covea Finance now owns 37,700 shares of the conglomerate’s stock valued at $5,912,000 after acquiring an additional 17,700 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Insider Activity

In other news, CEO Luca Savi sold 36,385 shares of ITT 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 sale, the chief executive officer directly owned 297,536 shares of the company’s stock, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

ITT Stock Down 0.1%

NYSE ITT opened at $181.06 on Tuesday. The stock has a market cap of $14.12 billion, a PE ratio of 28.47, a P/E/G ratio of 2.23 and a beta of 1.38. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $185.57. The business has a 50 day moving average price of $172.29 and a two-hundred day moving average price of $154.54. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

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, beating analysts’ consensus estimates of $1.62 by $0.02. The company had revenue of $972.40 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, sell-side analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.351 per share. The ex-dividend date was 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%.

Wall Street Analysts Forecast Growth

ITT has been the topic of several analyst reports. Cowen restated a “buy” rating on shares of ITT in a report on Thursday. Stifel Nicolaus raised their price target on ITT from $197.00 to $202.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. KeyCorp lifted their price target on ITT from $192.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of ITT in a report on Saturday, September 27th. Finally, Bank of America boosted their target price on shares of ITT from $190.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently 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.