ITT Inc. $ITT Shares Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC lifted its stake in shares of ITT Inc. (NYSE:ITT) by 428.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,720 shares of the conglomerate’s stock after purchasing an additional 20,850 shares during the quarter. ITT comprises 0.9% of Pier 88 Investment Partners LLC’s portfolio, making the stock its 27th largest position. Pier 88 Investment Partners LLC’s holdings in ITT were worth $4,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ITT. Norges Bank bought a new position in ITT during the 2nd quarter worth $140,815,000. AQR Capital Management LLC boosted its holdings in shares of ITT by 47.4% during the second quarter. AQR Capital Management LLC now owns 554,837 shares of the conglomerate’s stock valued at $86,993,000 after acquiring an additional 178,539 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of ITT during the second quarter worth about $21,894,000. Invesco Ltd. increased its holdings in shares of ITT by 14.2% in the 2nd quarter. Invesco Ltd. now owns 1,094,750 shares of the conglomerate’s stock worth $171,690,000 after acquiring an additional 135,768 shares during the period. Finally, Raymond James Financial Inc. lifted its position in ITT by 23.9% in the 2nd quarter. Raymond James Financial Inc. now owns 590,874 shares of the conglomerate’s stock valued at $92,667,000 after purchasing an additional 114,150 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Up 0.4%

ITT opened at $183.94 on Tuesday. ITT Inc. has a one year low of $105.64 and a one year high of $197.07. 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’s fifty day moving average is $179.06 and its 200-day moving average is $175.24. The company has a market capitalization of $15.83 billion, a PE ratio of 30.55, a P/E/G ratio of 1.65 and a beta of 1.37.

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

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were issued a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, December 1st. ITT’s payout ratio is presently 23.26%.

Insider Activity at ITT

In related news, CAO Mesa Graziano Cheryl De sold 238 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $183.08, for a total transaction of $43,573.04. Following the completion of the sale, the chief accounting officer directly owned 5,062 shares in the company, 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 filing with the SEC, which is available at the SEC website. Also, CFO Emmanuel Caprais sold 5,500 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 36,830 shares in the company, valued at $6,822,020.90. This 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 owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stifel Nicolaus decreased their target price on shares of ITT from $225.00 to $218.00 and set a “buy” rating for the company in a research report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of ITT in a research report on Thursday. TD Cowen restated a “buy” rating on shares of ITT in a research report on Thursday, October 2nd. Citigroup boosted their price target on ITT from $207.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, DA Davidson reissued a “buy” rating and set a $215.00 price target on shares of ITT in a report on Monday, December 8th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $206.25.

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.