Prudent Man Advisors LLC Cuts Stake in ITT Inc. $ITT

Prudent Man Advisors LLC lowered its position in shares of ITT Inc. (NYSE:ITT) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,169 shares of the conglomerate’s stock after selling 111 shares during the period. Prudent Man Advisors LLC’s holdings in ITT were worth $654,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its stake in ITT by 26.2% in the second quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate’s stock valued at $76,000 after purchasing an additional 101 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in ITT by 2,777.8% in the second quarter. Cullen Frost Bankers Inc. now owns 518 shares of the conglomerate’s stock valued at $81,000 after purchasing an additional 500 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in ITT by 341.1% in the first quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate’s stock valued at $118,000 after purchasing an additional 706 shares during the last quarter. Quarry LP grew its stake in ITT by 273.4% in the first quarter. Quarry LP now owns 926 shares of the conglomerate’s stock valued at $120,000 after purchasing an additional 678 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in ITT by 11.4% in the second quarter. UMB Bank n.a. now owns 954 shares of the conglomerate’s stock valued at $150,000 after purchasing an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of NYSE ITT opened at $176.59 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. The company has a market cap of $13.77 billion, a PE ratio of 27.76, a P/E/G ratio of 2.17 and a beta of 1.38. The business has a 50-day simple moving average of $174.52 and a two-hundred day simple moving average of $158.94. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $185.57.

ITT (NYSE:ITT) last released its earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%.The firm had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. During the same quarter in the previous year, the company posted $1.49 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, equities analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.351 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. ITT’s payout ratio is 22.01%.

Insider Activity at ITT

In related news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the completion of the sale, the chief executive officer owned 297,536 shares of the company’s stock, valued at $49,022,031.36. The trade was a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. TD Cowen lifted their target price on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Bank of America lifted their target price on ITT from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Cowen reiterated a “buy” rating on shares of ITT in a research note on Thursday, October 2nd. KeyCorp raised their price target on ITT from $192.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Finally, Stifel Nicolaus raised their price target on ITT from $202.00 to $203.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $191.00.

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.