ITT Inc. $ITT Shares Sold by Covea Finance

Covea Finance cut its position in shares of ITT Inc. (NYSE:ITT) by 19.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,300 shares of the conglomerate’s stock after selling 7,400 shares during the period. Covea Finance’s holdings in ITT were worth $5,416,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. MQS Management LLC purchased a new stake in ITT in the second quarter valued at $362,000. Jump Financial LLC increased its position in shares of ITT by 145.8% during the 1st quarter. Jump Financial LLC now owns 17,152 shares of the conglomerate’s stock worth $2,215,000 after purchasing an additional 10,173 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in ITT by 2.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 284,743 shares of the conglomerate’s stock valued at $44,656,000 after buying an additional 7,516 shares during the period. Ground Swell Capital LLC purchased a new stake in ITT in the 2nd quarter valued at about $249,000. Finally, Westfield Capital Management Co. LP lifted its position in ITT by 3.4% in the second quarter. Westfield Capital Management Co. LP now owns 657,250 shares of the conglomerate’s stock valued at $103,077,000 after buying an additional 21,831 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Bank of America lifted their price target on shares of ITT from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. DA Davidson reiterated a “buy” rating and issued a $215.00 target price on shares of ITT in a report on Monday, December 8th. KeyCorp boosted 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. Cowen restated a “buy” rating on shares of ITT in a research report on Thursday, October 2nd. Finally, TD Cowen lifted their price objective on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Ten investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $207.13.

ITT Stock Up 0.2%

ITT stock opened at $177.90 on Friday. The firm has a market capitalization of $15.31 billion, a P/E ratio of 29.55, a P/E/G ratio of 2.12 and a beta of 1.37. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $197.07. The stock’s fifty day simple moving average is $180.18 and its 200-day simple moving average is $171.12.

ITT (NYSE:ITT) last released its earnings results on Wednesday, October 29th. The conglomerate reported $1.78 EPS for the quarter, topping 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 firm had revenue of $999.10 million during the quarter, compared to analysts’ expectations of $973.69 million. During the same period in the previous year, the firm posted $1.46 EPS. ITT’s revenue for the quarter was up 12.9% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. As a group, equities analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, December 1st. ITT’s dividend payout ratio is presently 23.26%.

Insider Activity at ITT

In other news, CFO Emmanuel Caprais sold 5,500 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $185.23, for a total value of $1,018,765.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mesa Graziano Cheryl De sold 238 shares of ITT stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $183.08, for a total transaction of $43,573.04. Following the sale, the chief accounting officer directly owned 5,062 shares of the company’s stock, valued at approximately $926,750.96. This trade represents a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by company insiders.

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.