Ensign Peak Advisors Inc Decreases Stock Holdings in ITT Inc. $ITT

Ensign Peak Advisors Inc cut its stake in shares of ITT Inc. (NYSE:ITT) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,141 shares of the conglomerate’s stock after selling 2,950 shares during the period. Ensign Peak Advisors Inc’s holdings in ITT were worth $3,786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in ITT during the first quarter valued at $156,406,000. T. Rowe Price Investment Management Inc. grew its stake in shares of ITT by 97.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate’s stock valued at $237,125,000 after purchasing an additional 904,654 shares during the period. Findlay Park Partners LLP increased its position in shares of ITT by 94.7% during the 1st quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate’s stock valued at $102,760,000 after purchasing an additional 387,000 shares during the last quarter. Select Equity Group L.P. lifted its stake in shares of ITT by 4.4% in the 1st quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate’s stock worth $615,525,000 after purchasing an additional 200,676 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of ITT in the second quarter worth approximately $21,894,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. DA Davidson set a $190.00 price target on shares of ITT and gave the stock a “buy” rating in a research report on Monday, August 4th. Citigroup raised their target price on ITT from $207.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. KeyCorp lifted their target price on ITT from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. TD Cowen raised their price objective on ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, UBS Group lifted their price objective on ITT from $168.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.25.

Insider Activity

In related news, CAO Mesa Graziano Cheryl De sold 238 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $183.08, for a total value 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. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Emmanuel Caprais sold 5,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 36,830 shares in the company, valued at approximately $6,822,020.90. This trade represents a 12.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.47% of the stock is owned by company insiders.

ITT Trading Up 1.4%

Shares of ITT stock opened at $183.45 on Wednesday. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $197.07. The company has a quick ratio of 0.99, a current ratio of 1.52 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $180.18 and a 200-day moving average price of $167.27. The firm has a market cap of $14.31 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.42 and a beta of 1.40.

ITT (NYSE:ITT) last posted its earnings results on Wednesday, October 29th. The conglomerate reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.11. ITT had a return on equity of 18.96% and a net margin of 12.67%.The firm had revenue of $999.10 million during the quarter, compared to the consensus estimate of $973.69 million. During the same period in the prior year, the company earned $1.46 EPS. The company’s quarterly 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. Equities research analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently disclosed 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. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, December 1st. ITT’s dividend payout ratio is 23.26%.

About ITT

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.