Cullen Frost Bankers Inc. Purchases 500 Shares of ITT Inc. $ITT

Cullen Frost Bankers Inc. lifted its position in ITT Inc. (NYSE:ITT) by 2,777.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 518 shares of the conglomerate’s stock after buying an additional 500 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in ITT were worth $81,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. AdvisorNet Financial Inc grew its stake in shares of ITT by 26.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate’s stock valued at $76,000 after buying an additional 101 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of ITT by 341.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate’s stock valued at $118,000 after buying an additional 706 shares in the last quarter. Quarry LP grew its stake in shares of ITT by 273.4% in the 1st quarter. Quarry LP now owns 926 shares of the conglomerate’s stock valued at $120,000 after buying an additional 678 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of ITT by 178.2% in the 1st quarter. Brooklyn Investment Group now owns 982 shares of the conglomerate’s stock valued at $127,000 after buying an additional 629 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in ITT by 1,125.3% during the first quarter. Headlands Technologies LLC now owns 1,017 shares of the conglomerate’s stock worth $131,000 after purchasing an additional 934 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Stock Up 0.6%

Shares of ITT stock opened at $176.59 on Friday. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $185.57. The firm has a market cap of $13.77 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.38. The stock has a 50 day moving average of $174.52 and a 200-day moving average of $158.94. 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 issued its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%.The company had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. During the same period in the previous year, the company earned $1.49 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, equities analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were paid 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 was Tuesday, September 2nd. ITT’s dividend payout ratio is presently 22.01%.

Wall Street Analyst Weigh In

ITT has been the subject of a number of recent analyst reports. Cowen reaffirmed a “buy” rating on shares of ITT in a research report on Thursday, October 2nd. 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. KeyCorp upped 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. TD Cowen upped their target price on ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ITT in a research report on Saturday. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, ITT presently has a consensus rating of “Moderate Buy” and an average target price of $191.00.

Insider Activity at ITT

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

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.