Algebris UK Ltd. Makes New Investment in ITT Inc. $ITT

Algebris UK Ltd. bought a new stake in shares of ITT Inc. (NYSE:ITT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,935 shares of the conglomerate’s stock, valued at approximately $882,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ITT. Amundi boosted its stake in ITT by 22,565.6% in the 1st quarter. Amundi now owns 7,253 shares of the conglomerate’s stock worth $867,000 after purchasing an additional 7,221 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of ITT by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate’s stock valued at $54,020,000 after purchasing an additional 28,937 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of ITT in the first quarter worth $360,000. Focus Partners Wealth grew its holdings in shares of ITT by 80.7% during the first quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate’s stock valued at $1,017,000 after buying an additional 3,515 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in ITT by 72.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,495 shares of the conglomerate’s stock valued at $2,819,000 after buying an additional 7,348 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on ITT shares. Citigroup raised their price objective on ITT from $207.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. TD Cowen reaffirmed a “buy” rating on shares of ITT in a research report on Thursday, October 2nd. KeyCorp increased their target price on shares of ITT from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Wall Street Zen lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ITT in a research note on Thursday. Nine analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $206.25.

ITT Price Performance

Shares of ITT stock opened at $183.08 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $179.02 and a 200-day simple moving average of $175.06. The stock has a market capitalization of $15.75 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.65 and a beta of 1.37. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $197.07.

ITT (NYSE:ITT) last issued its quarterly earnings results on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.11. ITT had a return on equity of 18.96% and a net margin of 12.67%.The company had revenue of $999.10 million for the quarter, compared to the consensus estimate of $973.69 million. During the same period last year, the business posted $1.46 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. On average, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were issued a dividend of $0.351 per share. The ex-dividend date was Monday, December 1st. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. ITT’s payout ratio is presently 23.26%.

Insider Activity

In related news, CAO Mesa Graziano Cheryl De sold 238 shares of the business’s stock in a transaction dated 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 directly owned 5,062 shares in the company, valued at $926,750.96. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Emmanuel Caprais sold 5,500 shares of ITT stock in a transaction on Friday, October 31st. The stock was sold at an average price of $185.23, for a total transaction of $1,018,765.00. Following the sale, the chief financial officer owned 36,830 shares in the company, valued at $6,822,020.90. This represents a 12.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.47% of the company’s stock.

ITT Profile

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.