1,568 Shares in ITT Inc. $ITT Purchased by Forum Financial Management LP

Forum Financial Management LP purchased a new position in ITT Inc. (NYSE:ITT) in the second quarter, Holdings Channel reports. The fund purchased 1,568 shares of the conglomerate’s stock, valued at approximately $246,000.

A number of other large investors also recently bought and sold shares of the business. Ethic Inc. raised its holdings in ITT by 7.0% in the 2nd quarter. Ethic Inc. now owns 7,126 shares of the conglomerate’s stock worth $1,126,000 after purchasing an additional 465 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of ITT by 2,777.8% during the second quarter. Cullen Frost Bankers Inc. now owns 518 shares of the conglomerate’s stock valued at $81,000 after acquiring an additional 500 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of ITT during the second quarter valued at approximately $1,593,000. Allianz Asset Management GmbH raised its holdings in shares of ITT by 12.2% during the second quarter. Allianz Asset Management GmbH now owns 62,043 shares of the conglomerate’s stock valued at $9,730,000 after acquiring an additional 6,769 shares during the last quarter. Finally, Mutual Advisors LLC raised its holdings in shares of 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 acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Luca Savi sold 36,385 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the completion of the transaction, the chief executive officer directly owned 297,536 shares in the company, valued at $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Cowen reissued a “buy” rating on shares of ITT in a report on Thursday, October 2nd. DA Davidson set a $190.00 target price on ITT and gave the company a “buy” rating in a report on Monday, August 4th. UBS Group increased their target price on ITT from $168.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. TD Cowen increased their target price on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Bank of America increased their price target on ITT from $190.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and a consensus target price of $191.00.

ITT Trading Up 0.4%

Shares of ITT stock opened at $177.14 on Tuesday. The firm has a market capitalization of $13.82 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.17 and a beta of 1.38. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $185.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. The stock has a 50 day moving average of $174.73 and a 200 day moving average of $159.55.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.02. The company had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, research analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were given a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, September 2nd. ITT’s dividend payout ratio is presently 22.01%.

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.