ITT Inc. (NYSE:ITT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of ITT Inc. (NYSE:ITT) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $201.25.

ITT has been the subject of several recent research reports. UBS Group boosted their target price on shares of ITT from $168.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. TD Cowen upped their price objective on shares of ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Wall Street Zen raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Saturday. Stifel Nicolaus upped their price objective on shares of ITT from $202.00 to $203.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Finally, Citigroup upped their price objective on shares of ITT from $207.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday.

ITT Price Performance

Shares of NYSE ITT opened at $185.04 on Friday. The firm’s 50-day moving average price is $176.22 and its 200-day moving average price is $161.00. ITT has a 1-year low of $105.64 and a 1-year high of $197.07. The firm has a market capitalization of $14.43 billion, a P/E ratio of 30.74, a P/E/G ratio of 2.42 and a beta of 1.38. The company has a current ratio of 1.52, a quick ratio of 0.99 and a debt-to-equity ratio of 0.22.

ITT (NYSE:ITT) last posted its earnings results on Wednesday, October 29th. The conglomerate reported $1.78 EPS for the quarter, topping the consensus estimate of $1.67 by $0.11. The company had revenue of $999.10 million during the quarter, compared to the consensus estimate of $973.69 million. ITT had a net margin of 12.67% and a return on equity of 18.96%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. Equities research analysts anticipate that ITT will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be given 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 of this dividend is Monday, December 1st. ITT’s dividend payout ratio is currently 23.26%.

Insider Buying and Selling at ITT

In other news, CEO Luca Savi sold 36,385 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Nuveen LLC purchased a new stake in shares of ITT during the 1st quarter valued at approximately $156,406,000. T. Rowe Price Investment Management Inc. lifted its stake in ITT by 97.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate’s stock worth $237,125,000 after purchasing an additional 904,654 shares in the last quarter. Norges Bank purchased a new stake in ITT in the 2nd quarter worth approximately $140,815,000. Findlay Park Partners LLP lifted its stake in ITT by 94.7% in the 1st quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate’s stock worth $102,760,000 after purchasing an additional 387,000 shares in the last quarter. Finally, Select Equity Group L.P. lifted its stake in ITT by 4.4% in the 1st quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate’s stock worth $615,525,000 after purchasing an additional 200,676 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

About ITT

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.