Magnolia Capital Advisors LLC Acquires Shares of 1,525 ITT Inc. $ITT

Magnolia Capital Advisors LLC acquired a new stake in ITT Inc. (NYSE:ITT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,525 shares of the conglomerate’s stock, valued at approximately $239,000.

Several other large investors also recently bought and sold shares of ITT. Mutual Advisors LLC grew its position in ITT by 17.1% in the first quarter. Mutual Advisors LLC now owns 2,825 shares of the conglomerate’s stock valued at $388,000 after acquiring an additional 413 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of ITT by 0.3% during the first quarter. Principal Financial Group Inc. now owns 187,365 shares of the conglomerate’s stock worth $24,200,000 after buying an additional 516 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in shares of ITT by 24.2% during the first quarter. OneDigital Investment Advisors LLC now owns 3,042 shares of the conglomerate’s stock worth $393,000 after buying an additional 592 shares in the last quarter. Fullcircle Wealth LLC grew its position in shares of ITT by 19.1% during the first quarter. Fullcircle Wealth LLC now owns 1,668 shares of the conglomerate’s stock worth $229,000 after buying an additional 267 shares in the last quarter. Finally, Greenleaf Trust grew its position in shares of ITT by 10.6% during the first quarter. Greenleaf Trust now owns 2,724 shares of the conglomerate’s stock worth $352,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Performance

ITT stock opened at $185.93 on Wednesday. The company has a market cap of $14.50 billion, a PE ratio of 30.88, a P/E/G ratio of 2.42 and a beta of 1.38. The company has a fifty day moving average price of $176.81 and a two-hundred day moving average price of $162.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.99. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $197.07.

ITT (NYSE:ITT) last released its quarterly earnings data on Wednesday, October 29th. The conglomerate reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.11. The firm had revenue of $999.10 million during the quarter, compared to the consensus estimate of $973.69 million. ITT had a net margin of 12.67% and a return on equity of 18.96%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 earnings per share. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. Research analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on ITT shares. Wall Street Zen raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen raised their price target on shares of ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Stifel Nicolaus raised their price target 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 report on Monday, August 4th. Finally, Cowen reissued a “buy” rating on shares of ITT in a research report 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $201.25.

Insider Buying and Selling at ITT

In other ITT news, CFO Emmanuel Caprais sold 5,500 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $185.23, for a total value of $1,018,765.00. Following the sale, the chief financial officer directly owned 36,830 shares in the company, valued at approximately $6,822,020.90. This trade represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mesa Graziano Cheryl De sold 238 shares of the firm’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 owned 5,062 shares in the company, valued at $926,750.96. The trade was a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 42,123 shares of company stock worth $7,057,131. 0.47% of the stock is owned by insiders.

About ITT

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.