Eads & Heald Wealth Management Sells 265 Shares of ITT Inc. $ITT

Eads & Heald Wealth Management lessened its stake in ITT Inc. (NYSE:ITT) by 7.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 3,485 shares of the conglomerate’s stock after selling 265 shares during the period. Eads & Heald Wealth Management’s holdings in ITT were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ITT. Nuveen LLC bought a new stake in ITT in the first quarter valued at approximately $156,406,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of ITT by 97.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate’s stock valued at $237,125,000 after purchasing an additional 904,654 shares during the last quarter. Findlay Park Partners LLP increased its position in shares of ITT by 94.7% during the first quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate’s stock worth $102,760,000 after buying an additional 387,000 shares during the period. Select Equity Group L.P. raised its stake in ITT by 4.4% during the first quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate’s stock worth $615,525,000 after buying an additional 200,676 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in ITT by 38.7% in the first quarter. AQR Capital Management LLC now owns 376,298 shares of the conglomerate’s stock valued at $47,636,000 after buying an additional 104,926 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ITT. Weiss Ratings reiterated a “buy (b)” rating on shares of ITT in a report on Saturday, September 27th. TD Cowen raised their target price on ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group boosted their price target on ITT from $168.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Cowen restated a “buy” rating on shares of ITT in a report on Thursday. Finally, DA Davidson set a $190.00 price objective on shares of ITT and gave the stock a “buy” rating in a research report on Monday, August 4th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.89.

ITT Stock Down 0.3%

ITT stock opened at $181.04 on Monday. The firm has a market capitalization of $14.12 billion, a PE ratio of 28.47, a P/E/G ratio of 2.23 and a beta of 1.38. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $185.57. The stock’s 50 day moving average is $171.92 and its 200-day moving average is $154.22.

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

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were paid 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 dividend payout ratio (DPR) is 22.01%.

Insider Activity at ITT

In other news, CEO Luca Savi sold 36,385 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $5,994,792.60. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

ITT Profile

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.