Short Interest in ITT Inc. (NYSE:ITT) Grows By 41.0%
by Tristan Rich · The Markets DailyITT Inc. (NYSE:ITT – Get Free Report) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 2,034,829 shares, an increase of 41.0% from the November 30th total of 1,442,746 shares. Currently, 2.4% of the shares of the stock are sold short. Based on an average daily volume of 1,529,072 shares, the short-interest ratio is presently 1.3 days. Based on an average daily volume of 1,529,072 shares, the short-interest ratio is presently 1.3 days. Currently, 2.4% of the shares of the stock are sold short.
Insider Activity
In related news, CAO Mesa Graziano Cheryl De sold 238 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer owned 5,062 shares in the company, valued at $926,750.96. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Emmanuel Caprais sold 5,500 shares of ITT stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $185.23, for a total value of $1,018,765.00. Following the completion of the sale, the chief financial officer owned 36,830 shares in the company, valued at approximately $6,822,020.90. The trade was a 12.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by company insiders.
Hedge Funds Weigh In On ITT
Several institutional investors have recently bought and sold shares of ITT. Triumph Capital Management acquired a new stake in shares of ITT during the third quarter worth about $37,000. Tudor Investment Corp ET AL purchased a new stake in ITT during the 3rd quarter worth approximately $8,641,000. Allworth Financial LP lifted its holdings in ITT by 41.2% during the 3rd quarter. Allworth Financial LP now owns 562 shares of the conglomerate’s stock worth $100,000 after buying an additional 164 shares in the last quarter. IFP Advisors Inc boosted its position in ITT by 4.0% in the 3rd quarter. IFP Advisors Inc now owns 1,847 shares of the conglomerate’s stock valued at $330,000 after buying an additional 71 shares during the period. Finally, Swiss Life Asset Management Ltd grew its stake in shares of ITT by 74.1% in the third quarter. Swiss Life Asset Management Ltd now owns 3,653 shares of the conglomerate’s stock worth $653,000 after acquiring an additional 1,555 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.
ITT Trading Down 0.3%
ITT traded down $0.45 on Monday, hitting $177.44. The company had a trading volume of 1,980,711 shares, compared to its average volume of 1,140,572. The firm has a market cap of $15.27 billion, a P/E ratio of 29.47, a PEG ratio of 2.12 and a beta of 1.37. ITT has a 1 year low of $105.64 and a 1 year high of $197.07. The company’s fifty day moving average price is $180.38 and its 200 day moving average price is $171.75. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22.
ITT (NYSE:ITT – Get Free Report) last announced its earnings results on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.11. The company had revenue of $999.10 million during the quarter, compared to analyst estimates of $973.69 million. ITT had a net margin of 12.67% and a return on equity of 18.96%. ITT’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 earnings per share. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. As a group, equities analysts expect that ITT will post 6.51 earnings per share for the current year.
ITT Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be issued a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, December 1st. ITT’s payout ratio is currently 23.26%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on ITT shares. DA Davidson reaffirmed a “buy” rating and issued a $215.00 price target on shares of ITT in a report on Monday, December 8th. Bank of America raised their target price on ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Wall Street Zen raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. TD Cowen upped their price objective on shares of ITT from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ITT in a research note on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $207.13.
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.