Fisher Asset Management LLC Decreases Position in ITT Inc. $ITT

Fisher Asset Management LLC decreased its holdings in ITT Inc. (NYSE:ITT) by 7.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,865 shares of the conglomerate’s stock after selling 8,220 shares during the period. Fisher Asset Management LLC owned about 0.14% of ITT worth $16,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Financial Gravity Companies Inc. purchased a new position in ITT in the second quarter valued at $27,000. Atlantic Union Bankshares Corp acquired a new stake in ITT in the 2nd quarter valued at about $34,000. MTM Investment Management LLC acquired a new stake in ITT in the 2nd quarter valued at about $39,000. Clearstead Trust LLC boosted its stake in shares of ITT by 40.0% in the 2nd quarter. Clearstead Trust LLC now owns 350 shares of the conglomerate’s stock valued at $55,000 after buying an additional 100 shares during the period. Finally, NewSquare Capital LLC grew its position in shares of ITT by 37.2% during the second quarter. NewSquare Capital LLC now owns 454 shares of the conglomerate’s stock worth $71,000 after buying an additional 123 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ITT news, CAO Mesa Graziano Cheryl De sold 238 shares of ITT stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $183.08, for a total transaction of $43,573.04. Following the transaction, the chief accounting officer owned 5,062 shares of the company’s stock, valued at $926,750.96. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Emmanuel Caprais sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $185.23, for a total value of $1,018,765.00. Following the completion of the sale, the chief financial officer owned 36,830 shares of the company’s stock, valued at approximately $6,822,020.90. This represents a 12.99% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.47% of the company’s stock.

ITT Stock Up 0.6%

ITT stock opened at $180.55 on Thursday. The stock has a market cap of $14.08 billion, a P/E ratio of 29.99, a PEG ratio of 2.19 and a beta of 1.37. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $197.07. The company’s 50 day moving average is $180.51 and its two-hundred day moving average is $168.48.

ITT (NYSE:ITT) last announced its quarterly 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. ITT had a net margin of 12.67% and a return on equity of 18.96%. The firm had revenue of $999.10 million for the quarter, compared to analyst estimates of $973.69 million. During the same period last year, the business earned $1.46 EPS. ITT’s revenue for the quarter was up 12.9% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. Research analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be given a $0.351 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. ITT’s dividend payout ratio is 23.26%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ITT shares. Stifel Nicolaus raised their target price on shares of ITT from $202.00 to $203.00 and gave the company a “buy” rating in a report on Monday, October 20th. UBS Group increased their price objective on shares of ITT from $168.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. KeyCorp raised their price objective on shares of ITT from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of ITT in a research report on Thursday, October 2nd. Finally, TD Cowen increased their target price on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, ITT currently has an average rating of “Moderate Buy” and an average target price of $201.25.

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.