ITT (NYSE:ITT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ITT (NYSE:ITT) from a hold rating to a buy rating in a report published on Sunday.

A number of other analysts have also weighed in on the stock. KeyCorp raised their target price on shares of ITT from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of ITT in a report on Wednesday, October 8th. DA Davidson restated a “buy” rating and set a $215.00 price objective on shares of ITT in a research report on Monday, December 8th. Stifel Nicolaus set a $225.00 target price on ITT in a research report on Friday, December 5th. Finally, TD Cowen lifted their price target on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Ten investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, ITT presently has an average rating of “Buy” and a consensus target price of $207.13.

ITT Stock Performance

ITT stock opened at $184.20 on Friday. ITT has a 12-month low of $105.64 and a 12-month high of $197.07. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $179.82 and its two-hundred day moving average price is $173.72. The stock has a market cap of $15.85 billion, a PE ratio of 30.60, a P/E/G ratio of 1.94 and a beta of 1.37.

ITT (NYSE:ITT) last posted its earnings results on Wednesday, October 29th. The conglomerate reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.11. ITT had a net margin of 12.67% and a return on equity of 18.96%. The firm had revenue of $999.10 million during the quarter, compared to analysts’ expectations of $973.69 million. During the same quarter in the prior year, the business earned $1.46 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. As a group, analysts expect that ITT will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were given a dividend of $0.351 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. ITT’s dividend payout ratio is 23.26%.

Insider Activity

In other ITT news, CAO Mesa Graziano Cheryl De sold 238 shares of ITT stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $183.08, for a total value of $43,573.04. Following the completion of the sale, the chief accounting officer directly owned 5,062 shares in the company, valued at approximately $926,750.96. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Emmanuel Caprais sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $185.23, for a total value of $1,018,765.00. Following the completion of the transaction, the chief financial officer directly owned 36,830 shares in the company, valued at approximately $6,822,020.90. This trade represents a 12.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.47% of the company’s stock.

Institutional Trading of ITT

Hedge funds have recently modified their holdings of the stock. Amundi boosted its stake in ITT by 22,565.6% during the first quarter. Amundi now owns 7,253 shares of the conglomerate’s stock worth $867,000 after acquiring an additional 7,221 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ITT by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate’s stock valued at $54,020,000 after purchasing an additional 28,937 shares during the period. Empowered Funds LLC bought a new position in shares of ITT during the 1st quarter worth about $360,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of ITT by 2.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 256,670 shares of the conglomerate’s stock valued at $33,151,000 after buying an additional 6,203 shares during the period. Finally, Focus Partners Wealth increased its position in ITT by 80.7% in the 1st quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate’s stock valued at $1,017,000 after buying an additional 3,515 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

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.