Findlay Park Partners LLP Lowers Position in ITT Inc. $ITT

Findlay Park Partners LLP reduced its position in ITT Inc. (NYSE:ITT) by 3.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 767,900 shares of the conglomerate’s stock after selling 27,700 shares during the quarter. Findlay Park Partners LLP owned 0.98% of ITT worth $120,430,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ITT. Elevation Point Wealth Partners LLC purchased a new position in ITT during the 2nd quarter valued at about $94,000. Quadrant Capital Group LLC increased its stake in shares of ITT by 6.0% during the second quarter. Quadrant Capital Group LLC now owns 9,203 shares of the conglomerate’s stock valued at $1,443,000 after buying an additional 520 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of ITT by 0.3% during the second quarter. Russell Investments Group Ltd. now owns 54,391 shares of the conglomerate’s stock valued at $8,530,000 after acquiring an additional 141 shares in the last quarter. Inceptionr LLC lifted its stake in ITT by 355.3% in the second quarter. Inceptionr LLC now owns 7,412 shares of the conglomerate’s stock worth $1,162,000 after acquiring an additional 5,784 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in ITT by 2.9% in the second quarter. Advisors Asset Management Inc. now owns 3,427 shares of the conglomerate’s stock valued at $537,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ITT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ITT in a research note on Wednesday, October 8th. Bank of America lifted their price objective on ITT from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. KeyCorp raised their target price on ITT from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Citigroup upped their price target on ITT from $207.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, DA Davidson set a $190.00 target price on shares of ITT and gave the company a “buy” rating in a report on Monday, August 4th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, ITT currently has an average rating of “Moderate Buy” and an average target price of $201.25.

Insiders Place Their Bets

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

ITT Stock Performance

Shares of ITT opened at $184.12 on Thursday. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $197.07. The business’s fifty day simple moving average is $180.27 and its two-hundred day simple moving average is $167.39. The company has a current ratio of 1.52, a quick ratio of 0.99 and a debt-to-equity ratio of 0.22. The company has a market cap of $14.36 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 2.42 and a beta of 1.40.

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

ITT Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 1st. ITT’s dividend payout ratio is presently 23.26%.

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.