Vest Financial LLC Buys 5,931 Shares of ITT Inc. $ITT

by · The Markets Daily

Vest Financial LLC boosted its stake in shares of ITT Inc. (NYSE:ITT – Free Report) by 25.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,067 shares of the conglomerate’s stock after buying an additional 5,931 shares during the quarter. Vest Financial LLC’s holdings in ITT were worth $4,559,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its position in ITT by 26.2% during the second quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate’s stock valued at $76,000 after buying an additional 101 shares during the period. Farther Finance Advisors LLC lifted its holdings in ITT by 72.7% during the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate’s stock valued at $103,000 after purchasing an additional 331 shares during the last quarter. CX Institutional purchased a new stake in ITT during the first quarter valued at about $107,000. Geneos Wealth Management Inc. lifted its holdings in ITT by 341.1% during the first quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate’s stock valued at $118,000 after purchasing an additional 706 shares during the last quarter. Finally, Quarry LP lifted its holdings in ITT by 273.4% during the first quarter. Quarry LP now owns 926 shares of the conglomerate’s stock valued at $120,000 after purchasing an additional 678 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group upped their price objective on shares of ITT from $168.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ITT in a report on Wednesday, October 8th. Bank of America upped their price objective on shares of ITT from $190.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. KeyCorp increased their price target on shares of ITT from $192.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Finally, Citigroup reiterated a “buy” rating on shares of ITT in a research note on Thursday. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.89.

View Our Latest Report on ITT

Insiders Place Their Bets

In related news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $5,994,792.60. Following the sale, the chief executive officer owned 297,536 shares in the company, valued at $49,022,031.36. The trade was a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by company insiders.

ITT Trading Up 0.5%

Shares of ITT opened at $171.77 on Tuesday. The firm’s 50 day simple moving average is $173.34 and its 200 day simple moving average is $155.90. The company has a market capitalization of $13.40 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.11 and a beta of 1.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $185.57.

ITT (NYSE:ITT – Get Free Report) last announced its earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The business had revenue of $972.40 million for the quarter, compared to the consensus estimate of $947.48 million. During the same period last year, the firm posted $1.49 earnings per share. ITT’s quarterly revenue was up 7.3% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Sell-side analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were issued a $0.351 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.40 annualized dividend and a yield of 0.8%. ITT’s payout ratio is 22.01%.

About ITT

(Free Report)

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.

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