ITT Inc. $ITT Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in ITT Inc. (NYSE:ITT) by 15.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 153,808 shares of the conglomerate’s stock after selling 28,884 shares during the quarter. Retirement Systems of Alabama’s holdings in ITT were worth $24,122,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc increased its holdings in shares of ITT by 26.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate’s stock worth $76,000 after acquiring an additional 101 shares during the period. Assetmark Inc. boosted its stake in ITT by 31.7% during the 2nd quarter. Assetmark Inc. now owns 503 shares of the conglomerate’s stock valued at $79,000 after purchasing an additional 121 shares during the period. Cullen Frost Bankers Inc. grew its position in ITT by 2,777.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 518 shares of the conglomerate’s stock worth $81,000 after purchasing an additional 500 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of ITT by 872.8% in the second quarter. Hantz Financial Services Inc. now owns 788 shares of the conglomerate’s stock valued at $124,000 after purchasing an additional 707 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in shares of ITT by 341.1% during the first quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate’s stock valued at $118,000 after buying an additional 706 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT opened at $187.42 on Friday. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $197.07. The stock has a market capitalization of $14.62 billion, a P/E ratio of 31.13, a P/E/G ratio of 2.42 and a beta of 1.38. The firm’s 50 day moving average is $175.94 and its 200-day moving average is $160.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.99.

ITT (NYSE:ITT) last posted its quarterly earnings results on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.11. The firm had revenue of $999.10 million for the quarter, compared to analyst estimates of $973.69 million. ITT had a net margin of 12.67% and a return on equity of 18.96%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. Equities research analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be given a dividend of $0.351 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. ITT’s payout ratio is 22.01%.

Insider Activity at ITT

In related news, CEO Luca Savi sold 36,385 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $5,994,792.60. Following the completion of the transaction, the chief executive officer owned 297,536 shares in the company, valued at $49,022,031.36. This trade represents a 10.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ITT shares. Cowen reissued a “buy” rating on shares of ITT in a report on Thursday, October 2nd. Bank of America increased their price target on ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. TD Cowen raised their price target on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. KeyCorp upped their price objective on shares of ITT from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Stifel Nicolaus increased their target price on shares of ITT from $202.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, ITT currently has a consensus rating of “Moderate Buy” and an average price target of $201.25.

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.