Harmony Asset Management LLC Acquires New Holdings in ITT Inc. $ITT

Harmony Asset Management LLC bought a new position in shares of ITT Inc. (NYSE:ITT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,265 shares of the conglomerate’s stock, valued at approximately $1,003,000.

A number of other institutional investors have also recently bought and sold shares of ITT. Amundi increased its position in shares of 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. lifted its position in ITT by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate’s stock valued at $54,020,000 after acquiring an additional 28,937 shares in the last quarter. Empowered Funds LLC acquired a new position in ITT in the 1st quarter worth $360,000. Focus Partners Wealth boosted its stake in ITT by 80.7% in the 1st quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate’s stock worth $1,017,000 after purchasing an additional 3,515 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in ITT during the 2nd quarter worth about $1,880,000. Institutional investors own 91.59% of the company’s stock.

Insider Buying and Selling at ITT

In related news, insider Lori B. Marino sold 7,123 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $208.27, for a total value of $1,483,507.21. Following the completion of the transaction, the insider directly owned 8,729 shares of the company’s stock, valued at approximately $1,817,988.83. This trade represents a 44.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the business’s stock in a transaction 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 owned 7,859 shares in the company, valued at approximately $1,637,894.19. The trade was a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on ITT. Robert W. Baird set a $246.00 price target on ITT in a research note on Thursday, May 7th. BMO Capital Markets started coverage on ITT in a report on Friday, March 27th. They set an “outperform” rating and a $233.00 price objective for the company. Wall Street Zen lowered ITT from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Citigroup boosted their target price on ITT from $252.00 to $254.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, DA Davidson upped their price target on ITT from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. 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, ITT has an average rating of “Moderate Buy” and a consensus price target of $234.42.

ITT Price Performance

NYSE:ITT opened at $194.06 on Thursday. ITT Inc. has a 52-week low of $154.29 and a 52-week high of $225.26. The company has a market cap of $17.35 billion, a P/E ratio of 34.23, a P/E/G ratio of 1.83 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.53. The stock’s 50-day simple moving average is $194.32 and its 200 day simple moving average is $194.88.

ITT (NYSE:ITT) last issued its quarterly 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 analysts’ expectations 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. As a group, sell-side analysts forecast that ITT Inc. will post 7.91 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 8th were issued a $0.386 dividend. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 8th. ITT’s dividend payout ratio is presently 27.16%.

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.