Commerce Bank Invests $2.81 Million in ITT Inc. $ITT

Commerce Bank acquired a new stake in shares of ITT Inc. (NYSE:ITT) during the second quarter, HoldingsChannel reports. The fund acquired 14,222 shares of the conglomerate’s stock, valued at approximately $2,813,000.

Other hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of ITT in the second quarter worth $2,285,000. Diversified Trust Co purchased a new position in shares of ITT during the 1st quarter valued at $2,478,000. TimesSquare Capital Management LLC lifted its stake in shares of ITT by 10.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 226,700 shares of the conglomerate’s stock valued at $39,335,000 after buying an additional 21,200 shares in the last quarter. Payden & Rygel boosted its holdings in ITT by 34.7% in the 4th quarter. Payden & Rygel now owns 112,500 shares of the conglomerate’s stock worth $19,520,000 after buying an additional 29,000 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in ITT by 15.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 110,200 shares of the conglomerate’s stock worth $21,264,000 after buying an additional 15,004 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of analyst reports. Barclays increased their price target on ITT from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Wolfe Research raised ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 price objective for the company in a research note on Thursday, July 9th. DA Davidson increased their target price on ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. BMO Capital Markets reissued an “outperform” rating and set a $273.00 target price on shares of ITT in a research note on Friday, August 7th. Finally, Citigroup boosted their price target on ITT from $254.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $241.08.

Insider Activity at ITT

In related news, CAO Mesa Graziano Cheryl De sold 700 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $214.54, for a total transaction of $150,178.00. Following the completion of the transaction, the chief accounting officer directly owned 7,159 shares of the company’s stock, valued at approximately $1,535,891.86. This represents a 8.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.88% of the company’s stock.

ITT Stock Performance

ITT opened at $204.93 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.26. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of 40.18, a PEG ratio of 1.70 and a beta of 1.27. The company has a fifty day moving average of $199.21 and a 200 day moving average of $199.47. ITT Inc. has a fifty-two week low of $166.96 and a fifty-two week high of $230.32.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, topping the consensus estimate of $1.92 by $0.16. ITT had a net margin of 8.90% and a return on equity of 15.90%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the company earned $1.64 EPS. The business’s quarterly revenue was up 51.5% compared to the same quarter last year. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. As a group, sell-side analysts forecast that ITT Inc. will post 8.25 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Tuesday, September 8th will be given a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 8th. ITT’s payout ratio is currently 30.20%.

ITT Company Profile

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.