Allspring Global Investments Holdings LLC Has $21.26 Million Position in ITT Inc. $ITT

Allspring Global Investments Holdings LLC raised its holdings in ITT Inc. (NYSE:ITT) by 15.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,200 shares of the conglomerate’s stock after acquiring an additional 15,004 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.12% of ITT worth $21,264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ITT. Diversified Trust Co acquired a new position in ITT during the first quarter worth $2,478,000. TimesSquare Capital Management LLC lifted its holdings in ITT by 10.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 226,700 shares of the conglomerate’s stock worth $39,335,000 after purchasing an additional 21,200 shares during the last quarter. Payden & Rygel boosted its position in ITT by 34.7% during the fourth quarter. Payden & Rygel now owns 112,500 shares of the conglomerate’s stock worth $19,520,000 after purchasing an additional 29,000 shares during the period. Vanguard Group Inc. grew its holdings in ITT by 7.9% during the fourth quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate’s stock valued at $1,467,976,000 after purchasing an additional 620,217 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of ITT by 15.6% during the 4th quarter. Geode Capital Management LLC now owns 1,614,929 shares of the conglomerate’s stock worth $280,267,000 after buying an additional 217,360 shares during the period. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

ITT has been the topic of several recent analyst reports. The Goldman Sachs Group started coverage on shares of ITT in a report on Tuesday, March 31st. They issued a “buy” rating and a $270.00 target price on the stock. KeyCorp upped their target price on shares of ITT from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Robert W. Baird set a $246.00 price target on shares of ITT in a report on Thursday, May 7th. Citigroup raised their price target on shares of ITT from $252.00 to $254.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Wolfe Research raised ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 price objective on the stock in a report on Thursday, July 9th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, ITT presently has a consensus rating of “Moderate Buy” and an average price target of $234.75.

Insiders Place Their Bets

In other news, CAO Mesa Graziano Cheryl De sold 200 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the sale, the chief accounting officer owned 7,859 shares in the company, valued at approximately $1,637,894.19. The trade was a 2.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lori B. Marino sold 7,123 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $208.27, for a total transaction of $1,483,507.21. Following the completion of the sale, the insider directly owned 8,729 shares in the company, valued at approximately $1,817,988.83. The trade was a 44.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.88% of the company’s stock.

ITT Stock Performance

NYSE ITT opened at $191.18 on Tuesday. ITT Inc. has a twelve month low of $155.58 and a twelve month high of $225.26. The company has a quick ratio of 1.01, a current ratio of 1.53 and a debt-to-equity ratio of 0.71. The stock has a market cap of $17.09 billion, a P/E ratio of 33.72, a PEG ratio of 1.81 and a beta of 1.27. The company’s 50-day simple moving average is $193.49 and its 200 day simple moving average is $195.21.

ITT (NYSE:ITT) last announced its quarterly earnings results on Wednesday, May 6th. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.21. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.12 billion. ITT had a net margin of 10.80% and a return on equity of 16.83%. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 earnings per share. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. As a group, research analysts forecast that ITT Inc. will post 7.91 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 8th were given a dividend of $0.386 per share. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, June 8th. ITT’s dividend payout ratio (DPR) is 27.16%.

About ITT

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.