Geode Capital Management LLC Acquires 217,360 Shares of ITT Inc. $ITT

Geode Capital Management LLC lifted its holdings in shares of ITT Inc. (NYSE:ITT) by 15.6% during the 4th quarter, Holdings Channel reports. The firm owned 1,614,929 shares of the conglomerate’s stock after purchasing an additional 217,360 shares during the quarter. Geode Capital Management LLC’s holdings in ITT were worth $280,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elyxium Wealth LLC bought a new stake in shares of ITT during the 4th quarter valued at about $29,000. Entrust Financial LLC bought a new stake in shares of ITT during the 4th quarter valued at about $36,000. Triumph Capital Management bought a new stake in shares of ITT during the 3rd quarter valued at about $37,000. Measured Wealth Private Client Group LLC bought a new stake in shares of ITT during the 3rd quarter valued at about $43,000. Finally, Key Financial Inc bought a new stake in shares of ITT during the 3rd quarter valued at about $47,000. Institutional investors own 91.59% of the company’s stock.

ITT Trading Down 2.7%

Shares of ITT stock opened at $189.81 on Tuesday. The stock has a fifty day simple moving average of $202.99 and a 200 day simple moving average of $191.90. ITT Inc. has a 12-month low of $147.63 and a 12-month high of $225.26. The company has a market capitalization of $16.97 billion, a P/E ratio of 33.48, a price-to-earnings-growth ratio of 1.83 and a beta of 1.27. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

ITT (NYSE:ITT) last issued its quarterly earnings results on Wednesday, May 6th. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.21. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.12 billion. ITT had a return on equity of 16.83% and a net margin of 10.80%.ITT’s revenue was up 32.7% on a year-over-year basis. During the same period last year, the business posted $1.45 earnings per share. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. On average, sell-side analysts anticipate that ITT Inc. will post 7.9 earnings per share for the current fiscal year.

ITT Announces Dividend

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

Insider Activity at ITT

In related news, CEO Luca Savi sold 63,450 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $190.69, for a total transaction of $12,099,280.50. Following the completion of the sale, the chief executive officer directly owned 262,354 shares of the company’s stock, valued at approximately $50,028,284.26. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the sale, the chief accounting officer directly owned 7,859 shares of the company’s stock, valued at $1,637,894.19. The trade was a 2.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 70,773 shares of company stock valued at $13,624,470. 0.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ITT. The Goldman Sachs Group began coverage on ITT in a research report on Tuesday, March 31st. They set a “buy” rating and a $270.00 target price on the stock. Stifel Nicolaus set a $246.00 price objective on ITT in a report on Thursday, May 7th. DA Davidson upped their target price on ITT from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Weiss Ratings cut ITT from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Finally, KeyCorp lifted their price target on shares of ITT from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, ITT has a consensus rating of “Moderate Buy” and an average price target 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.