ITT (NYSE:ITT) Research Coverage Started at Wolfe Research

Wolfe Research started coverage on shares of ITT (NYSE:ITT) in a report published on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $272.00 price objective on the conglomerate’s stock.

Other research analysts also recently issued reports about the company. Weiss Ratings upgraded ITT from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Stifel Nicolaus raised their target price on shares of ITT from $246.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. KeyCorp lifted their price target on shares of ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $273.00 price target on shares of ITT in a research report on Friday, August 7th. Finally, DA Davidson increased their price objective on shares of ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $252.60.

ITT Trading Up 4.4%

NYSE:ITT opened at $203.12 on Tuesday. ITT has a one year low of $166.96 and a one year high of $230.32. The business has a fifty day moving average price of $202.54 and a 200-day moving average price of $199.32. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of 39.83, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.26 and a quick ratio of 0.85.

ITT (NYSE:ITT) last released its earnings results on Thursday, August 6th. The conglomerate reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.16. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.39 billion. ITT had a return on equity of 15.90% and a net margin of 8.90%.ITT’s quarterly revenue was up 51.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 earnings per share. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Sell-side analysts forecast that ITT will post 8.25 EPS for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Tuesday, September 8th will be paid a $0.386 dividend. This represents a $1.54 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 8th. ITT’s dividend payout ratio is presently 30.20%.

Insider Buying and Selling

In related news, CEO Luca Savi bought 5,019 shares of the stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $199.56 per share, with a total value of $1,001,591.64. Following the completion of the acquisition, the chief executive officer owned 267,373 shares of the company’s stock, valued at $53,356,955.88. This represents a 1.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Graziano De sold 700 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $214.54, for a total transaction of $150,178.00. Following the transaction, the chief accounting officer owned 7,159 shares of the company’s stock, valued at approximately $1,535,891.86. This represents a 8.91% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.88% of the company’s stock.

Institutional Trading of ITT

Hedge funds have recently bought and sold shares of the stock. Capital International Investors boosted its stake in shares of ITT by 3.0% during the fourth quarter. Capital International Investors now owns 8,797,165 shares of the conglomerate’s stock valued at $1,526,421,000 after purchasing an additional 258,936 shares during the period. BlackRock Inc. bought a new position in shares of ITT in the second quarter worth about $1,715,593,000. Geode Capital Management LLC increased its stake in ITT by 15.6% in 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. Findlay Park Partners LLP bought a new stake in ITT during the 2nd quarter valued at about $276,395,000. Finally, Norges Bank bought a new stake in ITT during the 4th quarter valued at about $194,884,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Company Profile

ITT Inc is a diversified industrial manufacturer that develops and produces highly engineered components and systems for transportation, energy, industrial, aerospace and defense, and other specialized markets. The company serves original equipment manufacturers, distributors and aftermarket customers through a portfolio of mission-critical products designed to support safety, efficiency and reliability.

ITT operates through three primary business segments. Motion Technologies supplies brake pads, friction materials, shock absorbers, dampers and related components for automotive and rail applications.