Van ECK Associates Corp Has $14.80 Million Stock Position in ITT Inc. $ITT

Van ECK Associates Corp lifted its position in shares of ITT Inc. (NYSE:ITT) by 9.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,860 shares of the conglomerate’s stock after purchasing an additional 6,190 shares during the quarter. Van ECK Associates Corp owned 0.08% of ITT worth $14,804,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ITT. Amundi increased its stake in ITT by 22,565.6% in the 1st quarter. Amundi now owns 7,253 shares of the conglomerate’s stock valued at $867,000 after buying an additional 7,221 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of ITT by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate’s stock worth $54,020,000 after purchasing an additional 28,937 shares during the period. Empowered Funds LLC bought a new stake in ITT during the first quarter worth $360,000. Focus Partners Wealth increased its position in ITT by 80.7% during the 1st quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate’s stock worth $1,017,000 after purchasing an additional 3,515 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of ITT in the second quarter valued at approximately $1,880,000. 91.59% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ITT news, CAO Mesa Graziano Cheryl De sold 700 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $214.54, for a total value of $150,178.00. Following the completion of the transaction, the chief accounting officer owned 7,159 shares of the company’s stock, valued at approximately $1,535,891.86. The trade was a 8.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. KeyCorp boosted their target price on shares of ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and set a $273.00 price target on shares of ITT in a report on Friday, August 7th. Wall Street Zen downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Stifel Nicolaus raised their price target on ITT from $246.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Citigroup raised their price target on ITT from $254.00 to $267.00 and gave the company a “buy” rating in a report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ITT has an average rating of “Moderate Buy” and a consensus target price of $241.08.

ITT Price Performance

Shares of ITT stock opened at $200.33 on Tuesday. The business’s fifty day moving average is $200.20 and its 200 day moving average is $199.70. ITT Inc. has a twelve month low of $166.96 and a twelve month high of $230.32. The stock has a market cap of $17.91 billion, a price-to-earnings ratio of 39.28, a PEG ratio of 1.66 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.16. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.39 billion. ITT had a return on equity of 15.90% and a net margin of 8.90%.The business’s revenue for the quarter was up 51.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 EPS. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Research analysts expect that ITT Inc. will post 8.25 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Tuesday, September 8th will be issued a $0.386 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. ITT’s dividend payout ratio (DPR) is presently 30.20%.

ITT Profile

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.