Sigma Planning Corp Sells 4,004 Shares of ITT Inc. $ITT

Sigma Planning Corp decreased its position in ITT Inc. (NYSE:ITT) by 62.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,420 shares of the conglomerate’s stock after selling 4,004 shares during the quarter. Sigma Planning Corp’s holdings in ITT were worth $488,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ITT. Robeco Schweiz AG bought a new stake in ITT in the third quarter worth approximately $31,053,000. Signaturefd LLC lifted its stake in shares of ITT by 7.5% in the 3rd quarter. Signaturefd LLC now owns 2,376 shares of the conglomerate’s stock valued at $480,000 after purchasing an additional 165 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its stake in shares of ITT by 1.2% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 61,518 shares of the conglomerate’s stock valued at $12,416,000 after purchasing an additional 746 shares during the last quarter. Root Financial Partners LLC bought a new stake in ITT in the third quarter worth $128,000. Finally, AMF Tjanstepension AB boosted its holdings in ITT by 1,027.2% in the third quarter. AMF Tjanstepension AB now owns 505,575 shares of the conglomerate’s stock worth $102,035,000 after purchasing an additional 460,721 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Down 2.0%

ITT stock opened at $198.54 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.26 and a quick ratio of 0.85. ITT Inc. has a fifty-two week low of $166.96 and a fifty-two week high of $230.32. The firm has a fifty day moving average price of $201.70 and a two-hundred day moving average price of $198.85. The firm has a market cap of $17.75 billion, a price-to-earnings ratio of 38.93, a P/E/G ratio of 1.62 and a beta of 1.25.

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

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Tuesday, September 8th were paid a dividend of $0.3860 per share. The ex-dividend date was Tuesday, September 8th. This represents a $1.54 annualized dividend and a yield of 0.8%. ITT’s dividend payout ratio is presently 30.20%.

Analysts Set New Price Targets

Several research firms have weighed in on ITT. DA Davidson raised their target price on ITT from $255.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $273.00 price target on shares of ITT in a research report on Friday, August 7th. Wolfe Research assumed coverage on ITT in a research note on Tuesday, September 15th. They set an “outperform” rating and a $272.00 price target for the company. KeyCorp upped their price target on ITT from $250.00 to $263.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Weiss Ratings lowered ITT from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, ITT has a consensus rating of “Moderate Buy” and a consensus target price of $260.22.

Insider Buying and Selling

In other ITT news, CEO Luca Savi purchased 5,019 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was bought at an average cost of $199.56 per share, for a total transaction of $1,001,591.64. Following the completion of the acquisition, the chief executive officer directly owned 267,373 shares in the company, valued at $53,356,955.88. This represents a 1.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Graziano De sold 700 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $214.54, for a total value of $150,178.00. Following the completion of the sale, the chief accounting officer directly owned 7,159 shares of the company’s stock, valued at $1,535,891.86. This represents a 8.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.88% of the company’s stock.

About ITT

ITT Inc (NYSE: ITT) is a global industrial manufacturer that designs and produces highly engineered components and technology solutions for transportation, industrial, energy, aerospace, defense and other specialized markets. The company serves original equipment manufacturers, distributors and end users through operations in North America, Europe, Asia and other international markets.

ITT operates through three primary business segments. Motion Technologies develops brake pads, shock absorbers, sealing products and other engineered components used in automotive, rail and related transportation applications.