ITT Inc. (NYSE:ITT) Short Interest Update

ITT Inc. (NYSE:ITT) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 2,034,829 shares, a growth of 41.0% from the November 30th total of 1,442,746 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average trading volume of 1,529,072 shares, the days-to-cover ratio is presently 1.3 days. Based on an average trading volume of 1,529,072 shares, the days-to-cover ratio is presently 1.3 days. Currently, 2.4% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America lifted their target price on ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Citigroup increased their price objective on shares of ITT from $207.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. DA Davidson reissued a “buy” rating and issued a $215.00 price objective on shares of ITT in a research note on Monday, December 8th. Cowen restated a “buy” rating on shares of ITT in a research report on Thursday, October 2nd. Finally, TD Cowen increased their price target on ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $207.13.

Insiders Place Their Bets

In other news, CAO Mesa Graziano Cheryl De sold 238 shares of the business’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 in the company, valued at $926,750.96. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Emmanuel Caprais sold 5,500 shares of ITT stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $185.23, for a total value of $1,018,765.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is currently owned by company insiders.

Institutional Trading of ITT

Several institutional investors have recently bought and sold shares of ITT. Financial Gravity Companies Inc. purchased a new stake in shares of ITT in the 2nd quarter valued at $27,000. True Wealth Design LLC boosted its holdings in ITT by 219.2% during the 3rd quarter. True Wealth Design LLC now owns 166 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 114 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in ITT during the second quarter worth about $34,000. Quent Capital LLC purchased a new stake in ITT during the third quarter worth about $37,000. Finally, Triumph Capital Management acquired a new position in shares of ITT in the third quarter valued at approximately $37,000. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Down 1.9%

NYSE:ITT traded down $3.39 during midday trading on Wednesday, reaching $173.29. 895,400 shares of the stock traded hands, compared to its average volume of 551,911. ITT 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 $180.42 and a two-hundred day moving average of $171.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.52. The stock has a market capitalization of $14.91 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 2.11 and a beta of 1.37.

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

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors 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 yield of 0.8%. The ex-dividend date of this dividend is Monday, December 1st. ITT’s dividend payout ratio (DPR) is 23.26%.

About ITT

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.