Tidal Investments LLC Has $1.36 Million Holdings in ITT Inc. $ITT

Tidal Investments LLC trimmed its position in shares of ITT Inc. (NYSE:ITT) by 83.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,889 shares of the conglomerate’s stock after selling 34,703 shares during the quarter. Tidal Investments LLC’s holdings in ITT were worth $1,362,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of ITT in the 2nd quarter worth approximately $1,715,593,000. Capital International Investors grew its holdings in shares of ITT by 3.0% during the fourth quarter. Capital International Investors now owns 8,797,165 shares of the conglomerate’s stock worth $1,526,421,000 after purchasing an additional 258,936 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ITT by 15.6% in the fourth quarter. Geode Capital Management LLC now owns 1,614,929 shares of the conglomerate’s stock valued at $280,267,000 after buying an additional 217,360 shares in the last quarter. Findlay Park Partners LLP acquired a new stake in shares of ITT in the second quarter valued at $276,395,000. Finally, Norges Bank bought a new position in shares of ITT in the fourth quarter valued at about $194,884,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Trading Up 1.0%

ITT stock opened at $204.91 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. ITT Inc. has a twelve month low of $166.96 and a twelve month high of $230.32. The company has a market cap of $18.32 billion, a P/E ratio of 40.18, a PEG ratio of 1.66 and a beta of 1.27. The business has a fifty day moving average of $202.74 and a 200-day moving average of $199.36.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, August 6th. The conglomerate reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.16. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.39 billion. ITT had a return on equity of 15.90% and a net margin of 8.90%.The firm’s quarterly revenue was up 51.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.64 earnings per share. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. As a group, equities research analysts expect that ITT Inc. will post 8.25 EPS for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th will be paid a $0.386 dividend. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 8th. ITT’s dividend payout ratio (DPR) is 30.20%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $273.00 price target on shares of ITT in a research report on Friday, August 7th. DA Davidson raised their price objective on shares of ITT from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Stifel Nicolaus boosted their target price on shares of ITT from $246.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. KeyCorp upped their target price on shares of ITT from $250.00 to $263.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Wolfe Research initiated coverage on shares of ITT in a research note on Tuesday. They set an “outperform” rating and a $272.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $252.60.

Insider Activity at ITT

In related news, CAO Graziano 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Luca Savi acquired 5,019 shares of ITT stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $199.56 per share, for a total transaction of $1,001,591.64. Following the completion of the purchase, the chief executive officer owned 267,373 shares of the company’s stock, valued at approximately $53,356,955.88. The trade was a 1.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.88% of the stock is owned by insiders.

ITT Profile

ITT Inc is a diversified industrial manufacturer that develops and produces highly engineered components and systems for transportation, energy, industrial, aerospace and defense, and other specialized markets. The company serves original equipment manufacturers, distributors and aftermarket customers through a portfolio of mission-critical products designed to support safety, efficiency and reliability.

ITT operates through three primary business segments. Motion Technologies supplies brake pads, friction materials, shock absorbers, dampers and related components for automotive and rail applications.