4,895 Shares in ITT Inc. $ITT Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in ITT Inc. (NYSE:ITT) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 4,895 shares of the conglomerate’s stock, valued at approximately $968,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITT. BlackRock Inc. purchased a new stake in shares of ITT during the second quarter valued at approximately $1,715,593,000. Northwestern Mutual Wealth Management Co. grew its stake in ITT by 55,929.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate’s stock valued at $263,458,000 after purchasing an additional 1,515,695 shares during the period. Findlay Park Partners LLP purchased a new stake in shares of ITT during the 2nd quarter valued at $276,395,000. Norges Bank bought a new stake in shares of ITT during the 4th quarter worth $194,884,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of ITT in the 2nd quarter worth about $119,853,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. DA Davidson raised their price objective on shares of ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings lowered shares of ITT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Robert W. Baird set a $246.00 price objective on ITT in a research note on Thursday, May 7th. Wall Street Zen downgraded ITT from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Citigroup upped their price target on ITT from $254.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.82.

Insider Activity

In other ITT news, CAO Mesa Graziano Cheryl De sold 700 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $214.54, for a total value of $150,178.00. Following the sale, the chief accounting officer directly owned 7,159 shares in the company, valued at $1,535,891.86. This represents a 8.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Luca Savi purchased 5,019 shares of the business’s stock in a transaction on Monday, August 31st. The stock was purchased at an average cost of $199.56 per share, with a total value of $1,001,591.64. Following the completion of the acquisition, the chief executive officer owned 267,373 shares in the company, valued at approximately $53,356,955.88. This trade represents a 1.91% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.88% of the company’s stock.

ITT Stock Down 3.1%

ITT stock opened at $194.03 on Wednesday. The firm has a market capitalization of $17.35 billion, a price-to-earnings ratio of 38.05, a P/E/G ratio of 1.64 and a beta of 1.27. The firm has a 50 day simple moving average of $200.19 and a 200 day simple moving average of $199.64. ITT Inc. has a 1-year low of $166.96 and a 1-year high of $230.32. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.16. ITT had a return on equity of 15.90% and a net margin of 8.90%.The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $1.64 earnings per share. The business’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, analysts predict that ITT Inc. will post 8.25 earnings per share for the current year.

ITT Dividend Announcement

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

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.