Bessemer Group Inc. Cuts Position in ITT Inc. $ITT

Bessemer Group Inc. trimmed its stake in ITT Inc. (NYSE:ITT) by 38.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,968 shares of the conglomerate’s stock after selling 5,673 shares during the period. Bessemer Group Inc.’s holdings in ITT were worth $1,709,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Elyxium Wealth LLC purchased a new position in ITT in the fourth quarter valued at about $29,000. Bayban purchased a new stake in shares of ITT during the fourth quarter valued at about $31,000. Parkside Financial Bank & Trust lifted its position in shares of ITT by 62.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate’s stock valued at $34,000 after buying an additional 76 shares during the last quarter. Triumph Capital Management bought a new stake in shares of ITT in the 3rd quarter valued at about $37,000. Finally, Entrust Financial LLC bought a new stake in shares of ITT in the 4th quarter valued at about $36,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Price Performance

Shares of ITT opened at $193.01 on Thursday. The firm has a market capitalization of $17.26 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.53 and a quick ratio of 1.01. ITT Inc. has a 1-year low of $157.66 and a 1-year high of $225.26. The company’s fifty day moving average price is $193.00 and its 200-day moving average price is $195.48.

ITT (NYSE:ITT) last issued its earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.21. ITT had a return on equity of 16.83% and a net margin of 10.80%.The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $1.45 EPS. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. On average, equities research analysts predict that ITT Inc. will post 7.89 EPS for the current year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 8th were paid a $0.386 dividend. 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 presently 27.16%.

Insider Transactions at ITT

In related news, insider Lori B. Marino sold 7,123 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $208.27, for a total value of $1,483,507.21. Following the transaction, the insider owned 8,729 shares in the company, valued at approximately $1,817,988.83. This represents a 44.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $208.41, for a total transaction of $41,682.00. Following the transaction, the chief accounting officer directly owned 7,859 shares of the company’s stock, valued at $1,637,894.19. This represents a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

ITT has been the subject of several recent analyst reports. Wall Street Zen lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Citigroup raised their target price on shares of ITT from $252.00 to $254.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. The Goldman Sachs Group assumed coverage on shares of ITT in a report on Tuesday, March 31st. They issued a “buy” rating and a $270.00 price target on the stock. Weiss Ratings lowered ITT from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Finally, Robert W. Baird set a $246.00 price objective on ITT in a research report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and a consensus target price of $234.75.

ITT Company 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.