Vest Financial LLC Buys 5,931 Shares of ITT Inc. $ITT

Vest Financial LLC grew its holdings in shares of ITT Inc. (NYSE:ITT) by 25.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 29,067 shares of the conglomerate’s stock after buying an additional 5,931 shares during the period. Vest Financial LLC’s holdings in ITT were worth $4,559,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. AdvisorNet Financial Inc boosted its holdings in shares of ITT by 26.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate’s stock valued at $76,000 after buying an additional 101 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of ITT by 72.7% during the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate’s stock valued at $103,000 after buying an additional 331 shares in the last quarter. CX Institutional bought a new stake in shares of ITT during the 1st quarter valued at $107,000. Geneos Wealth Management Inc. boosted its holdings in shares of ITT by 341.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate’s stock valued at $118,000 after buying an additional 706 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of ITT by 273.4% during the 1st quarter. Quarry LP now owns 926 shares of the conglomerate’s stock valued at $120,000 after buying an additional 678 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

ITT has been the topic of a number of research reports. Cowen restated a “buy” rating on shares of ITT in a report on Thursday, October 2nd. Stifel Nicolaus boosted their target price on shares of ITT from $197.00 to $202.00 and gave the company a “buy” rating in a report on Friday, August 1st. KeyCorp boosted their target price on shares of ITT from $192.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Weiss Ratings restated a “buy (b)” rating on shares of ITT in a report on Wednesday, October 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of ITT in a research report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.89.

ITT Price Performance

Shares of NYSE:ITT opened at $171.77 on Tuesday. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $185.57. The business has a 50-day simple moving average of $173.34 and a two-hundred day simple moving average of $155.90. 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 firm has a market cap of $13.40 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 2.11 and a beta of 1.38.

ITT (NYSE:ITT) last issued its earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share 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 business had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. During the same quarter in the previous year, the firm earned $1.49 EPS. ITT’s revenue was up 7.3% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

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

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of the business’s 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 directly owned 297,536 shares in the company, valued at $49,022,031.36. The trade was a 10.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

ITT Company Profile

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.