ITT (NYSE:ITT) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

ITT Inc. (NYSE:ITT)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $198.77 and traded as high as $203.00. ITT shares last traded at $202.5330, with a volume of 554,547 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ITT. Wolfe Research started coverage on shares of ITT in a research note on Tuesday, September 15th. They set an “outperform” rating and a $272.00 price objective on the stock. KeyCorp raised their target price on ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a report on Friday, August 7th. DA Davidson upped their price target on shares of ITT from $255.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Stifel Nicolaus set a $256.00 price target on shares of ITT in a research note on Monday, October 19th. Finally, Weiss Ratings lowered ITT from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and an average target price of $260.22.

ITT Trading Down 2.0%

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.26 and a quick ratio of 0.85. The firm has a fifty day simple moving average of $201.70 and a two-hundred day simple moving average of $198.85. The firm has a market capitalization of $17.75 billion, a P/E ratio of 38.93, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.16. ITT had a return on equity of 15.90% and a net margin of 8.90%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm posted $1.64 EPS. The firm’s revenue for the quarter was up 51.5% on a year-over-year basis. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. On average, equities research analysts anticipate that ITT Inc. will post 8.25 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Tuesday, September 8th were given a $0.3860 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. ITT’s dividend payout ratio (DPR) is currently 30.20%.

Insider Activity

In other ITT news, CAO Graziano De sold 700 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were 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 owned 7,159 shares in the company, valued at $1,535,891.86. The trade was a 8.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Luca Savi acquired 5,019 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were purchased at an average cost of $199.56 per share, with a total value of $1,001,591.64. Following the completion of the transaction, the chief executive officer owned 267,373 shares in the company, valued at approximately $53,356,955.88. The trade was a 1.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On ITT

Several hedge funds and other institutional investors have recently made changes to their positions in ITT. Provenance Wealth Advisors LLC boosted its position in ITT by 554.2% in the third quarter. Provenance Wealth Advisors LLC now owns 2,944 shares of the conglomerate’s stock valued at $594,000 after buying an additional 2,494 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in ITT by 5.2% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,787 shares of the conglomerate’s stock valued at $1,168,000 after purchasing an additional 287 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in ITT during the 3rd quarter worth approximately $584,000. MGO One Seven LLC increased its holdings in ITT by 28.2% during the third quarter. MGO One Seven LLC now owns 1,848 shares of the conglomerate’s stock worth $373,000 after buying an additional 407 shares during the last quarter. Finally, Choreo LLC bought a new stake in shares of ITT in the third quarter valued at approximately $210,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

About ITT

ITT Inc (NYSE: ITT) is a global industrial manufacturer that designs and produces highly engineered components and technology solutions for transportation, industrial, energy, aerospace, defense and other specialized markets. The company serves original equipment manufacturers, distributors and end users through operations in North America, Europe, Asia and other international markets.

ITT operates through three primary business segments. Motion Technologies develops brake pads, shock absorbers, sealing products and other engineered components used in automotive, rail and related transportation applications.