Grandeur Peak Global Advisors LLC Purchases 38,483 Shares of ITT Inc. $ITT

Grandeur Peak Global Advisors LLC boosted its position in ITT Inc. (NYSE:ITT) by 26.3% during the second quarter, Holdings Channel.com reports. The fund owned 184,902 shares of the conglomerate’s stock after purchasing an additional 38,483 shares during the quarter. ITT accounts for 8.9% of Grandeur Peak Global Advisors LLC’s holdings, making the stock its 3rd largest holding. Grandeur Peak Global Advisors LLC’s holdings in ITT were worth $36,566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITT. BlackRock Inc. acquired a new position in shares of ITT in the 2nd quarter valued at about $1,715,593,000. Northwestern Mutual Wealth Management Co. increased its position in ITT by 55,929.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate’s stock worth $263,458,000 after purchasing an additional 1,515,695 shares in the last quarter. Findlay Park Partners LLP purchased a new position in ITT in the second quarter valued at approximately $276,395,000. Norges Bank acquired a new position in ITT during the fourth quarter valued at approximately $194,884,000. Finally, Bank of America Corp DE acquired a new position in ITT during the second quarter valued at approximately $173,436,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on ITT. Barclays increased their target price on ITT from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Citigroup raised their price objective on ITT from $254.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Robert W. Baird set a $246.00 price objective on shares of ITT in a report on Thursday, May 7th. Wolfe Research raised shares of ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 target price on the stock in a report on Thursday, July 9th. Finally, Stifel Nicolaus raised their price target on shares of ITT from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $241.08.

ITT Trading Down 1.2%

Shares of ITT stock opened at $207.90 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. The stock has a 50-day simple moving average of $200.06 and a 200 day simple moving average of $199.68. ITT Inc. has a fifty-two week low of $166.96 and a fifty-two week high of $230.32. The stock has a market capitalization of $18.59 billion, a P/E ratio of 40.77, a P/E/G ratio of 1.72 and a beta of 1.27.

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

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.386 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.54 dividend on an annualized basis and a yield of 0.7%. ITT’s dividend payout ratio is currently 30.20%.

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 directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

ITT Company 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.