ITT Inc. $ITT Shares Bought by Payden & Rygel

Payden & Rygel boosted its holdings in shares of ITT Inc. (NYSE:ITT) by 34.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 112,500 shares of the conglomerate’s stock after buying an additional 29,000 shares during the quarter. ITT comprises about 1.3% of Payden & Rygel’s investment portfolio, making the stock its 24th biggest holding. Payden & Rygel’s holdings in ITT were worth $19,520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital International Investors raised its position in ITT by 0.5% during the third quarter. Capital International Investors now owns 8,538,229 shares of the conglomerate’s stock worth $1,526,281,000 after acquiring an additional 38,433 shares during the last quarter. Vanguard Group Inc. raised its position in 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 acquiring an additional 620,217 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ITT by 55,929.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate’s stock worth $263,458,000 after acquiring an additional 1,515,695 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of ITT by 11.2% in the third quarter. Alliancebernstein L.P. now owns 1,188,219 shares of the conglomerate’s stock worth $212,406,000 after acquiring an additional 119,601 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of ITT by 3.1% in the third quarter. Invesco Ltd. now owns 1,128,933 shares of the conglomerate’s stock worth $201,808,000 after acquiring an additional 34,183 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Activity at ITT

In related news, CEO Luca Savi sold 63,450 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $190.69, for a total transaction of $12,099,280.50. Following the completion of the transaction, the chief executive officer owned 262,354 shares of the company’s stock, valued at approximately $50,028,284.26. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $208.41, for a total transaction of $41,682.00. Following the transaction, the chief accounting officer directly owned 7,859 shares of the company’s stock, valued at $1,637,894.19. This trade represents a 2.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 70,773 shares of company stock worth $13,624,470. 0.88% of the stock is currently owned by insiders.

ITT Stock Performance

ITT stock opened at $194.95 on Tuesday. The firm has a market capitalization of $17.43 billion, a P/E ratio of 34.38, a PEG ratio of 1.83 and a beta of 1.32. The stock has a fifty day moving average price of $201.64 and a 200 day moving average price of $191.48. ITT Inc. has a 52 week low of $145.41 and a 52 week high of $225.26. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

ITT (NYSE:ITT) last released its earnings results on Wednesday, May 6th. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.77 by $0.21. The firm had revenue of $1.21 billion during 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 business’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 earnings per share. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. Equities research analysts anticipate that ITT Inc. will post 7.91 earnings per share for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 8th will be paid a $0.386 dividend. This represents a $1.54 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 8th. ITT’s dividend payout ratio is presently 27.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ITT shares. Barclays boosted their price target on ITT from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. KeyCorp boosted their price target on ITT from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings cut ITT from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Citigroup boosted their price objective on shares of ITT from $252.00 to $254.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of ITT from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, ITT has an average rating of “Moderate Buy” and an average target price of $234.91.

ITT Company Profile

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.