Mitsubishi UFJ Trust & Banking Corp Decreases Position in ITT Inc. $ITT

Mitsubishi UFJ Trust & Banking Corp decreased its position in ITT Inc. (NYSE:ITT) by 8.6% during the 2nd quarter, Holdings Channel reports. The firm owned 30,693 shares of the conglomerate’s stock after selling 2,899 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in ITT were worth $4,814,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. New York State Common Retirement Fund grew its stake in ITT by 1.5% in the 1st quarter. New York State Common Retirement Fund now owns 47,703 shares of the conglomerate’s stock valued at $6,161,000 after acquiring an additional 700 shares during the last quarter. Stephens Inc. AR raised its position in ITT by 4.8% during the first quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate’s stock worth $254,000 after acquiring an additional 90 shares during the last quarter. CWM LLC grew its position in shares of ITT by 55.3% in the first quarter. CWM LLC now owns 6,741 shares of the conglomerate’s stock valued at $871,000 after purchasing an additional 2,401 shares during the last quarter. Private Advisor Group LLC grew its position in shares of ITT by 3.9% in the first quarter. Private Advisor Group LLC now owns 8,668 shares of the conglomerate’s stock valued at $1,120,000 after purchasing an additional 327 shares during the last quarter. Finally, Kestra Private Wealth Services LLC purchased a new position in shares of ITT during the 1st quarter worth approximately $291,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Insider Buying and Selling at ITT

In other news, CFO Emmanuel Caprais sold 5,500 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $185.23, for a total value of $1,018,765.00. Following the transaction, the chief financial officer directly owned 36,830 shares in the company, valued at $6,822,020.90. This trade represents a 12.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mesa Graziano Cheryl De sold 238 shares of ITT stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $183.08, for a total value of $43,573.04. Following the completion of the transaction, the chief accounting officer directly owned 5,062 shares in the company, valued at $926,750.96. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.47% of the company’s stock.

ITT Stock Down 1.3%

ITT opened at $182.29 on Tuesday. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $197.07. The business has a 50-day moving average of $179.72 and a two-hundred day moving average of $165.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.99. The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40.

ITT (NYSE:ITT) last released its 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. ITT had a net margin of 12.67% and a return on equity of 18.96%. The business had revenue of $999.10 million for the quarter, compared to analysts’ expectations of $973.69 million. During the same period last year, the company earned $1.46 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. On average, research analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, December 1st. ITT’s dividend payout ratio is presently 23.26%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TD Cowen upped their target price on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Citigroup boosted their price target on ITT from $207.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Stifel Nicolaus increased their price objective on ITT from $202.00 to $203.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Wall Street Zen raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of ITT in a report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.25.

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.