AlphaQuest LLC Lowers Holdings in ITT Inc. $ITT

AlphaQuest LLC cut its holdings in ITT Inc. (NYSE:ITT) by 82.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,901 shares of the conglomerate’s stock after selling 13,266 shares during the period. AlphaQuest LLC’s holdings in ITT were worth $455,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ground Swell Capital LLC purchased a new stake in shares of ITT during the 2nd quarter worth approximately $249,000. Asset Management One Co. Ltd. raised its holdings in shares of ITT by 43.8% during the 2nd quarter. Asset Management One Co. Ltd. now owns 1,500 shares of the conglomerate’s stock worth $235,000 after acquiring an additional 457 shares in the last quarter. Forum Financial Management LP purchased a new stake in shares of ITT during the 2nd quarter worth approximately $246,000. Ethic Inc. raised its holdings in shares of ITT by 7.0% during the 2nd quarter. Ethic Inc. now owns 7,126 shares of the conglomerate’s stock worth $1,126,000 after acquiring an additional 465 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of ITT by 2,777.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 518 shares of the conglomerate’s stock worth $81,000 after acquiring an additional 500 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ITT. Bank of America upped their price objective on ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Stifel Nicolaus upped their price objective on ITT from $202.00 to $203.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Citigroup reaffirmed a “buy” rating on shares of ITT in a report on Thursday, October 9th. KeyCorp boosted their target price on ITT from $192.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, DA Davidson set a $190.00 target price on ITT and gave the company a “buy” rating in a research report on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.50.

ITT Stock Performance

NYSE ITT opened at $195.42 on Thursday. The business’s 50 day moving average price is $175.49 and its 200-day moving average price is $160.41. The company has a market cap of $15.24 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.16 and a beta of 1.38. 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 fifty-two week low of $105.64 and a fifty-two week high of $195.92.

ITT (NYSE:ITT) last announced its quarterly earnings data on Wednesday, October 29th. The conglomerate reported $1.78 EPS for the quarter, beating the consensus estimate of $1.67 by $0.11. ITT had a return on equity of 18.08% and a net margin of 13.99%.The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. Sell-side analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be given a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, December 1st. ITT’s dividend payout ratio is 22.01%.

Insider Buying and Selling

In other ITT 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 transaction, the chief executive officer owned 297,536 shares of the company’s stock, valued at $49,022,031.36. This represents a 10.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by company insiders.

ITT 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.