Empowered Funds LLC Invests $2.24 Million in ITT Inc. $ITT

Empowered Funds LLC acquired a new stake in ITT Inc. (NYSE:ITT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,332 shares of the conglomerate’s stock, valued at approximately $2,241,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITT. United Capital Financial Advisors LLC purchased a new stake in shares of ITT during the second quarter valued at $505,000. Grandeur Peak Global Advisors LLC lifted its holdings in ITT by 26.3% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 184,902 shares of the conglomerate’s stock valued at $36,566,000 after buying an additional 38,483 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in ITT during the 2nd quarter valued at about $7,564,000. Public Employees Retirement System of Ohio purchased a new stake in ITT in the 2nd quarter valued at about $11,930,000. Finally, MASTERINVEST Kapitalanlage GmbH purchased a new stake in ITT in the 2nd quarter valued at about $234,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ITT shares. Weiss Ratings lowered shares of ITT from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. KeyCorp increased their price objective on ITT from $250.00 to $263.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Barclays raised their price objective on ITT from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Wolfe Research raised ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 target price for the company in a research report on Thursday, July 9th. Finally, DA Davidson upped their target price on ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and an average target price of $244.82.

Insiders Place Their Bets

In other news, CEO Luca Savi bought 5,019 shares of ITT stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $199.56 per share, for a total transaction of $1,001,591.64. Following the completion of the acquisition, the chief executive officer owned 267,373 shares of the company’s stock, valued at $53,356,955.88. This trade represents a 1.91% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mesa Graziano Cheryl De sold 700 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $214.54, for a total transaction of $150,178.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.88% of the company’s stock.

ITT Price Performance

NYSE ITT opened at $201.51 on Thursday. The company has a market cap of $18.02 billion, a PE ratio of 39.51, a P/E/G ratio of 1.59 and a beta of 1.27. The firm’s 50 day moving average price is $200.33 and its 200-day moving average price is $199.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.26. ITT Inc. has a 52-week low of $166.96 and a 52-week high of $230.32.

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

ITT Announces Dividend

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

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.