PEAK6 LLC Purchases New Stake in ITT Inc. $ITT

PEAK6 LLC acquired a new stake in ITT Inc. (NYSE:ITT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 39,216 shares of the conglomerate’s stock, valued at approximately $7,755,000.

A number of other hedge funds have also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. bought a new stake in ITT during the second quarter worth $2,285,000. Diversified Trust Co bought a new position in shares of ITT during the first quarter valued at about $2,478,000. TimesSquare Capital Management LLC grew its position in ITT by 10.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 226,700 shares of the conglomerate’s stock worth $39,335,000 after purchasing an additional 21,200 shares in the last quarter. Payden & Rygel grew its position in ITT by 34.7% in the 4th quarter. Payden & Rygel now owns 112,500 shares of the conglomerate’s stock worth $19,520,000 after purchasing an additional 29,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in ITT by 15.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 110,200 shares of the conglomerate’s stock valued at $21,264,000 after buying an additional 15,004 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ITT shares. Weiss Ratings downgraded ITT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. DA Davidson lifted their price target on ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Robert W. Baird set a $246.00 price objective on ITT in a research report on Thursday, May 7th. Barclays upped their price objective on ITT from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Finally, Wolfe Research raised ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 target price for the company in a research report on Thursday, July 9th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and an average price target of $241.08.

Insider Activity at ITT

In related news, CAO Mesa Graziano Cheryl De sold 700 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $214.54, for a total transaction of $150,178.00. Following the sale, the chief accounting officer directly owned 7,159 shares in the company, valued at approximately $1,535,891.86. This represents a 8.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

ITT Stock Up 0.1%

ITT stock opened at $208.23 on Monday. The stock has a fifty day moving average of $199.02 and a 200-day moving average of $199.34. ITT Inc. has a fifty-two week low of $165.82 and a fifty-two week high of $230.32. The company has a market capitalization of $18.62 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 1.70 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.26.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.16. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.39 billion. ITT had a return on equity of 15.90% and a net margin of 8.90%.The firm’s quarterly revenue was up 51.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 EPS. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. As a group, equities research analysts predict that ITT Inc. will post 8.25 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th will be given a $0.386 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.54 annualized dividend and a dividend yield of 0.7%. ITT’s payout ratio is 30.20%.

ITT 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.