Inspire Advisors LLC Makes New Investment in ITT Inc. $ITT

Inspire Advisors LLC bought a new stake in ITT Inc. (NYSE:ITT) in the second quarter, Holdings Channel.com reports. The institutional investor bought 5,759 shares of the conglomerate’s stock, valued at approximately $903,000.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC lifted its stake in ITT by 55.3% in the 1st quarter. CWM LLC now owns 6,741 shares of the conglomerate’s stock worth $871,000 after acquiring an additional 2,401 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of ITT by 3.9% in the 1st quarter. Private Advisor Group LLC now owns 8,668 shares of the conglomerate’s stock valued at $1,120,000 after purchasing an additional 327 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in shares of ITT in the first quarter worth approximately $291,000. IFP Advisors Inc boosted its holdings in shares of ITT by 330.9% during the first quarter. IFP Advisors Inc now owns 1,728 shares of the conglomerate’s stock worth $223,000 after purchasing an additional 1,327 shares during the period. Finally, Allianz Asset Management GmbH grew its position in ITT by 7.8% during the first quarter. Allianz Asset Management GmbH now owns 55,274 shares of the conglomerate’s stock valued at $7,139,000 after purchasing an additional 4,018 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Up 0.0%

Shares of NYSE:ITT opened at $182.18 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 0.99 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $14.21 billion, a PE ratio of 30.26, a P/E/G ratio of 2.42 and a beta of 1.40. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $197.07. The firm has a fifty day moving average price of $179.92 and a 200 day moving average price of $165.92.

ITT (NYSE:ITT) last posted its earnings results on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.11. The company had revenue of $999.10 million for the quarter, compared to analyst estimates of $973.69 million. ITT had a return on equity of 18.96% and a net margin of 12.67%.The business’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. Analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

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

Insider Buying and Selling

In other news, CAO Mesa Graziano Cheryl De sold 238 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $183.08, for a total value of $43,573.04. Following the completion of the sale, the chief accounting officer directly owned 5,062 shares in the company, valued at approximately $926,750.96. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $1,018,765.00. Following the completion of the transaction, the chief financial officer owned 36,830 shares in the company, valued at $6,822,020.90. The trade was a 12.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on shares of ITT from $202.00 to $203.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. DA Davidson set a $190.00 price target on shares of ITT and gave the stock a “buy” rating in a research note on Monday, August 4th. Bank of America lifted their price objective on ITT from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Citigroup boosted their target price on ITT from $207.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, TD Cowen raised their price target on ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.25.

ITT Company Profile

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.