Livforsakringsbolaget Skandia Omsesidigt Invests $4.42 Million in ITT Inc. $ITT

Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of ITT Inc. (NYSE:ITT) in the second quarter, Holdings Channel.com reports. The fund bought 22,300 shares of the conglomerate’s stock, valued at approximately $4,416,000.

Other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in ITT in the 2nd quarter valued at about $2,241,000. United Capital Financial Advisors LLC bought a new stake in shares of ITT during the second quarter valued at approximately $505,000. Grandeur Peak Global Advisors LLC boosted its holdings in shares of ITT by 26.3% in the second quarter. Grandeur Peak Global Advisors LLC now owns 184,902 shares of the conglomerate’s stock valued at $36,566,000 after purchasing an additional 38,483 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of ITT in the second quarter valued at approximately $7,564,000. Finally, Public Employees Retirement System of Ohio bought a new position in ITT in the second quarter worth approximately $11,930,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Insider Buying and Selling at ITT

In related news, CAO Mesa Graziano Cheryl De sold 700 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $214.54, for a total transaction of $150,178.00. Following the transaction, the chief accounting officer directly owned 7,159 shares in the company, valued at $1,535,891.86. The trade was a 8.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by insiders.

ITT Stock Down 2.5%

Shares of ITT stock opened at $202.80 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. The company has a market cap of $18.13 billion, a P/E ratio of 39.76, a PEG ratio of 1.70 and a beta of 1.27. The firm’s 50 day moving average price is $200.18 and its 200-day moving average price is $199.70. ITT Inc. has a 52-week low of $166.96 and a 52-week high of $230.32.

ITT (NYSE:ITT) last posted its earnings results on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.16. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.39 billion. ITT had a net margin of 8.90% and a return on equity of 15.90%. ITT’s revenue for the quarter was up 51.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 earnings per share. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. On average, sell-side analysts predict that ITT Inc. will post 8.25 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.386 per share. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 8th. ITT’s dividend payout ratio is currently 30.20%.

Analysts Set New Price Targets

ITT has been the subject of several research reports. KeyCorp upped their target price on ITT from $250.00 to $263.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Citigroup lifted their price objective on ITT from $254.00 to $267.00 and gave the company a “buy” rating in a report on Friday, August 7th. Barclays lifted their price objective on shares of ITT from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. DA Davidson boosted their price objective on shares of ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings lowered ITT from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $241.08.

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.