California State Teachers Retirement System Acquires 20,464,442 Shares of ITT Inc. $ITT

California State Teachers Retirement System increased its holdings in ITT Inc. (NYSE:ITT) by 20,258.6% in the second quarter, Holdings Channel.com reports. The firm owned 20,565,458 shares of the conglomerate’s stock after acquiring an additional 20,464,442 shares during the period. California State Teachers Retirement System owned approximately 0.23% of ITT worth $4,067,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in ITT in the 2nd quarter worth $28,000. Trust Co. of Vermont bought a new position in shares of ITT during the second quarter valued at about $33,000. Elyxium Wealth LLC bought a new position in shares of ITT during the fourth quarter valued at about $29,000. Bayban purchased a new position in shares of ITT in the fourth quarter worth about $31,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of ITT by 62.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Insider Activity at ITT

In other ITT news, CEO Luca Savi purchased 5,019 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was bought at an average price of $199.56 per share, with a total value of $1,001,591.64. Following the completion of the purchase, the chief executive officer directly owned 267,373 shares of the company’s stock, valued at $53,356,955.88. The trade was a 1.91% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Graziano De sold 700 shares of ITT stock in a transaction on Friday, August 7th. The shares were sold at an average price of $214.54, for a total transaction of $150,178.00. Following the completion of the sale, the chief accounting officer owned 7,159 shares in the company, valued at approximately $1,535,891.86. This trade represents a 8.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is currently owned by insiders.

ITT Stock Performance

ITT stock opened at $196.42 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60. The firm has a market cap of $17.56 billion, a P/E ratio of 38.51, a P/E/G ratio of 1.62 and a beta of 1.27. ITT Inc. has a 1-year low of $166.96 and a 1-year high of $230.32. The firm has a 50-day moving average of $201.33 and a 200-day moving average of $199.51.

ITT (NYSE:ITT) last announced its quarterly 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. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.39 billion. ITT had a return on equity of 15.90% and a net margin of 8.90%.ITT’s revenue was up 51.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.64 EPS. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Sell-side analysts expect that ITT Inc. will post 8.25 EPS for the current year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th will be given a $0.386 dividend. 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 (DPR) is currently 30.20%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ITT shares. DA Davidson increased their target price on ITT from $255.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Citigroup lifted their price target on ITT from $254.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. KeyCorp boosted their price objective on ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings raised ITT from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Finally, Stifel Nicolaus raised their target price on shares of ITT from $246.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, ITT has an average rating of “Moderate Buy” and a consensus target price of $244.82.

About ITT

ITT Inc is a diversified industrial manufacturer that develops and produces highly engineered components and systems for transportation, energy, industrial, aerospace and defense, and other specialized markets. The company serves original equipment manufacturers, distributors and aftermarket customers through a portfolio of mission-critical products designed to support safety, efficiency and reliability.

ITT operates through three primary business segments. Motion Technologies supplies brake pads, friction materials, shock absorbers, dampers and related components for automotive and rail applications.