Norges Bank Buys New Position in ITT Inc. $ITT

by · The Cerbat Gem

Norges Bank bought a new stake in shares of ITT Inc. (NYSE:ITT – Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 1,123,184 shares of the conglomerate’s stock, valued at approximately $194,884,000.

Several other hedge funds have also modified their holdings of ITT. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ITT by 55,929.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate’s stock valued at $263,458,000 after buying an additional 1,515,695 shares during the period. Vanguard Group Inc. raised its holdings in shares of ITT by 7.9% during the fourth quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate’s stock worth $1,467,976,000 after purchasing an additional 620,217 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of ITT by 86,878.2% during the third quarter. Brown Brothers Harriman & Co. now owns 267,893 shares of the conglomerate’s stock worth $47,889,000 after purchasing an additional 267,585 shares during the period. Seven Grand Managers LLC acquired a new stake in shares of ITT during the fourth quarter worth $43,378,000. Finally, Geode Capital Management LLC grew its position in shares of ITT by 15.6% during the fourth quarter. Geode Capital Management LLC now owns 1,614,929 shares of the conglomerate’s stock worth $280,267,000 after acquiring an additional 217,360 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Stock Performance

Shares of NYSE ITT opened at $194.30 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.53. The firm has a market cap of $17.37 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 1.83 and a beta of 1.27. The business’s 50-day simple moving average is $203.33 and its 200-day simple moving average is $192.00. ITT Inc. has a 52 week low of $149.02 and a 52 week high of $225.26.

ITT (NYSE:ITT – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.21. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.12 billion. ITT had a return on equity of 16.83% and a net margin of 10.80%.The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 EPS. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. As a group, equities research analysts expect that ITT Inc. will post 7.9 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 8th will be given a $0.386 dividend. The ex-dividend date is Monday, June 8th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. ITT’s dividend payout ratio (DPR) is currently 27.16%.

Analyst Upgrades and Downgrades

ITT has been the subject of several recent research reports. DA Davidson upped their price target on shares of ITT from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. BMO Capital Markets began coverage on ITT in a report on Friday, March 27th. They issued an “outperform” rating and a $233.00 price objective for the company. Robert W. Baird set a $246.00 target price on ITT in a research report on Thursday, May 7th. The Goldman Sachs Group initiated coverage on ITT in a research report on Tuesday, March 31st. They set a “buy” rating and a $270.00 target price on the stock. Finally, Citigroup upped their price target on ITT from $252.00 to $254.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $234.91.

Get Our Latest Stock Analysis on ITT

Insider Buying and Selling

In other ITT news, insider Lori B. Marino sold 7,123 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $208.27, for a total value of $1,483,507.21. Following the completion of the sale, the insider owned 8,729 shares in the company, valued at approximately $1,817,988.83. This trade represents a 44.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $208.41, for a total value of $41,682.00. Following the completion of the transaction, the chief accounting officer directly owned 7,859 shares of the company’s stock, valued at approximately $1,637,894.19. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is currently owned by company insiders.

ITT Profile

(Free Report)

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.

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