Assetmark Inc. Boosts Stock Holdings in ITT Inc. $ITT

Assetmark Inc. boosted its position in ITT Inc. (NYSE:ITT) by 6,323.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,434 shares of the conglomerate’s stock after purchasing an additional 40,789 shares during the period. Assetmark Inc.’s holdings in ITT were worth $7,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Amundi raised its position in ITT by 22,565.6% in the first quarter. Amundi now owns 7,253 shares of the conglomerate’s stock worth $867,000 after acquiring an additional 7,221 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of ITT by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate’s stock worth $54,020,000 after purchasing an additional 28,937 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of ITT during the 1st quarter worth $360,000. Focus Partners Wealth grew its stake in shares of ITT by 80.7% during the 1st quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate’s stock worth $1,017,000 after purchasing an additional 3,515 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of ITT in the 2nd quarter valued at about $1,880,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Activity at ITT

In other ITT news, CAO Mesa Graziano Cheryl De sold 200 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $208.41, for a total value of $41,682.00. Following the completion of the transaction, the chief accounting officer directly owned 7,859 shares in the company, valued at approximately $1,637,894.19. The trade was a 2.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lori B. Marino sold 7,123 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $208.27, for a total value of $1,483,507.21. Following the transaction, the insider directly owned 8,729 shares in the company, valued at approximately $1,817,988.83. This represents a 44.93% decrease in their position. The SEC filing for this sale provides additional information. 0.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on ITT. Citigroup raised their price objective 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 started coverage on shares of ITT in a research report on Tuesday, March 31st. They set a “buy” rating and a $270.00 target price on the stock. BMO Capital Markets initiated coverage on shares of ITT in a report on Friday, March 27th. They issued an “outperform” rating and a $233.00 target price for the company. Wall Street Zen downgraded shares of ITT from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings lowered ITT from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.75.

ITT Price Performance

NYSE:ITT opened at $191.18 on Tuesday. ITT Inc. has a 12-month low of $155.58 and a 12-month high of $225.26. The firm has a market cap of $17.09 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 1.81 and a beta of 1.27. The company’s 50-day moving average is $193.49 and its two-hundred day moving average is $195.21. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

ITT (NYSE:ITT) last issued its quarterly earnings results on Wednesday, May 6th. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.21. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.12 billion. ITT had a net margin of 10.80% and a return on equity of 16.83%. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 earnings per share. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. Research analysts expect that ITT Inc. will post 7.91 EPS for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 8th were paid a $0.386 dividend. This represents a $1.54 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 8th. ITT’s payout ratio is presently 27.16%.

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.