Robeco Schweiz AG Makes New Investment in ITT Inc. $ITT

Robeco Schweiz AG acquired a new stake in shares of ITT Inc. (NYSE:ITT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 153,865 shares of the conglomerate’s stock, valued at approximately $31,053,000.

A number of other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in shares of ITT in the 2nd quarter worth approximately $2,285,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of ITT in the second quarter worth approximately $4,145,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of ITT by 15.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 110,200 shares of the conglomerate’s stock worth $21,264,000 after buying an additional 15,004 shares during the last quarter. Bank of America Corp DE bought a new stake in ITT during the second quarter valued at approximately $173,436,000. Finally, AlphaGrep UK Ltd bought a new stake in ITT during the second quarter valued at approximately $1,035,000. Institutional investors own 91.59% of the company’s stock.

Insider Activity at ITT

In other news, CAO Graziano De sold 700 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 7,159 shares of the company’s stock, valued at $1,535,891.86. This represents a 8.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 price of $199.56 per share, for a total transaction of $1,001,591.64. Following the completion of the transaction, the chief executive officer directly 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 SEC filing for this purchase provides additional information. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wolfe Research began coverage on shares of ITT in a report on Tuesday, September 15th. They set an “outperform” rating and a $272.00 target price for the company. Citigroup lifted their price target on shares of ITT from $254.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Weiss Ratings cut shares of ITT from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. BMO Capital Markets reissued an “outperform” rating and set a $273.00 price objective on shares of ITT in a research report on Friday, August 7th. Finally, KeyCorp upped their price objective on ITT from $250.00 to $263.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $260.22.

ITT Stock Up 0.8%

NYSE ITT opened at $189.72 on Friday. ITT Inc. has a 52 week low of $166.96 and a 52 week high of $230.32. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $16.96 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 1.55 and a beta of 1.25. The stock’s 50-day moving average price is $203.32 and its 200-day moving average price is $201.62.

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

ITT Dividend Announcement

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

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.