Luca Savi Purchases 5,019 Shares of ITT (NYSE:ITT) Stock

ITT Inc. (NYSE:ITT) CEO Luca Savi purchased 5,019 shares of the company’s stock in a transaction on Monday, August 31st. The shares were purchased at an average cost of $199.56 per share, for a total transaction of $1,001,591.64. Following the completion of the transaction, the chief executive officer directly owned 267,373 shares of the company’s stock, valued at approximately $53,356,955.88. This represents a 1.91% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ITT Stock Performance

Shares of ITT opened at $201.51 on Thursday. The firm has a 50-day moving average of $200.33 and a 200-day moving average of $199.66. ITT Inc. has a one year low of $166.96 and a one year high of $230.32. The company has a market cap of $18.02 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.26 and a quick ratio of 0.85.

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

ITT Announces Dividend

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

Institutional Trading of ITT

Several hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of ITT in the second quarter valued at about $2,285,000. Diversified Trust Co bought a new position in ITT during the first quarter worth about $2,478,000. Payden & Rygel raised its stake in ITT by 34.7% in the 4th quarter. Payden & Rygel now owns 112,500 shares of the conglomerate’s stock worth $19,520,000 after purchasing an additional 29,000 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in ITT by 10.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 226,700 shares of the conglomerate’s stock valued at $39,335,000 after purchasing an additional 21,200 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in ITT by 15.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 110,200 shares of the conglomerate’s stock valued at $21,264,000 after purchasing an additional 15,004 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITT has been the subject of several research analyst reports. Wall Street Zen downgraded ITT from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $273.00 price target on shares of ITT in a report on Friday, August 7th. DA Davidson lifted their price objective on shares of ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. KeyCorp upped their price objective on shares of ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Citigroup increased their price objective on shares of ITT from $254.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and an average target price of $244.82.

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.