Assenagon Asset Management S.A. Has $5.90 Million Stake in ITT Inc. $ITT

Assenagon Asset Management S.A. trimmed its holdings in shares of ITT Inc. (NYSE:ITT) by 72.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,985 shares of the conglomerate’s stock after selling 83,441 shares during the period. Assenagon Asset Management S.A.’s holdings in ITT were worth $5,904,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Elyxium Wealth LLC acquired a new position in ITT in the fourth quarter valued at about $29,000. Bayban bought a new position in ITT during the 4th quarter worth approximately $31,000. Parkside Financial Bank & Trust boosted its stake in ITT by 62.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 76 shares during the last quarter. Triumph Capital Management acquired a new position in ITT during the third quarter valued at approximately $37,000. Finally, Entrust Financial LLC acquired a new position in ITT during the fourth quarter valued at approximately $36,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ITT

In related news, CAO Mesa Graziano Cheryl De sold 200 shares of ITT 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 completion of the sale, the chief accounting officer directly owned 7,859 shares of the company’s stock, valued at approximately $1,637,894.19. This trade represents a 2.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lori B. Marino sold 7,123 shares of the business’s stock in a transaction 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 completion of the sale, the insider owned 8,729 shares of the company’s stock, valued at $1,817,988.83. This trade represents a 44.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.88% of the stock is currently owned by corporate insiders.

ITT Stock Up 0.1%

ITT stock opened at $193.20 on Monday. The company’s 50-day moving average is $200.99 and its 200-day moving average is $193.41. The firm has a market capitalization of $17.27 billion, a PE ratio of 34.07, a P/E/G ratio of 1.81 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 fifty-two week low of $154.29 and a fifty-two week high of $225.26.

ITT (NYSE:ITT) last released its quarterly earnings data on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.12 billion. During the same period last year, the firm posted $1.45 earnings per share. The business’s revenue was up 32.7% on a year-over-year basis. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. Sell-side analysts anticipate that ITT Inc. will post 7.91 earnings per share for the current year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 8th will be issued a dividend of $0.386 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. ITT’s payout ratio is presently 27.16%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays upped their price objective on shares of ITT from $210.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. DA Davidson upped their target price on shares of ITT from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Citigroup lifted their price target on ITT from $252.00 to $254.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. BMO Capital Markets began coverage on ITT in a research report on Friday, March 27th. They set an “outperform” rating and a $233.00 price objective for the company. Finally, Weiss Ratings downgraded ITT from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Ten research 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 company currently has an average rating of “Moderate Buy” and an average target price of $234.91.

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.