ITT Inc. $ITT Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. cut its holdings in shares of ITT Inc. (NYSE:ITT) by 2.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,994 shares of the conglomerate’s stock after selling 167 shares during the period. Securian Asset Management Inc.’s holdings in ITT were worth $940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Stephens Inc. AR lifted its position in ITT by 4.8% during the first quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate’s stock valued at $254,000 after purchasing an additional 90 shares during the period. Prudent Man Advisors LLC lifted its position in ITT by 2.3% during the first quarter. Prudent Man Advisors LLC now owns 4,280 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 98 shares during the period. UMB Bank n.a. lifted its position in ITT by 11.4% during 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 period. Mutual Advisors LLC lifted its position in ITT by 3.5% during the second quarter. Mutual Advisors LLC now owns 2,923 shares of the conglomerate’s stock valued at $472,000 after purchasing an additional 98 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in ITT by 0.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,643 shares of the conglomerate’s stock valued at $2,150,000 after purchasing an additional 100 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ITT

In other news, CEO Luca Savi sold 36,385 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were 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 Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup reiterated a “buy” rating on shares of ITT in a research report on Thursday, October 9th. KeyCorp upped their price objective on shares of ITT from $192.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. TD Cowen upped their price objective 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 upped their price objective on shares of ITT from $202.00 to $203.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Bank of America upped their price objective on shares of ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $191.00.

ITT Stock Up 1.9%

ITT stock opened at $175.47 on Friday. The stock has a market capitalization of $13.69 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.12 and a beta of 1.38. The firm has a 50-day simple moving average of $174.29 and a 200-day simple moving average of $158.18. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. ITT Inc. has a 52 week low of $105.64 and a 52 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. The business had revenue of $972.40 million during the quarter, compared to analysts’ expectations of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Equities analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were paid 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 currently 22.01%.

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.