Bessemer Group Inc. Decreases Holdings in ITT Inc. $ITT

Bessemer Group Inc. trimmed its holdings in shares of ITT Inc. (NYSE:ITT) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,912 shares of the conglomerate’s stock after selling 576 shares during the period. Bessemer Group Inc.’s holdings in ITT were worth $1,398,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc increased its holdings in ITT by 26.2% during the second quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate’s stock worth $76,000 after buying an additional 101 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in shares of ITT by 2,777.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 518 shares of the conglomerate’s stock valued at $81,000 after acquiring an additional 500 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of ITT by 341.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 913 shares of the conglomerate’s stock worth $118,000 after purchasing an additional 706 shares during the last quarter. Quarry LP raised its holdings in shares of ITT by 273.4% in the 1st quarter. Quarry LP now owns 926 shares of the conglomerate’s stock worth $120,000 after purchasing an additional 678 shares during the period. Finally, UMB Bank n.a. lifted its stake in ITT by 11.4% in the second quarter. UMB Bank n.a. now owns 954 shares of the conglomerate’s stock valued at $150,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ITT. UBS Group raised their target price on ITT from $168.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. DA Davidson set a $190.00 price target on ITT and gave the stock a “buy” rating in a research note on Monday, August 4th. Bank of America boosted their price objective on ITT from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. TD Cowen increased their target price on shares of ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, KeyCorp lifted their target price on shares of ITT from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.25.

Insider Transactions at ITT

In other ITT news, CEO Luca Savi sold 36,385 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $5,994,792.60. Following the sale, the chief executive officer directly owned 297,536 shares in the company, valued at $49,022,031.36. This represents a 10.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

ITT Stock Performance

Shares of ITT opened at $187.42 on Friday. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $197.07. The stock’s 50-day simple moving average is $175.94 and its 200 day simple moving average is $160.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.99 and a current ratio of 1.52. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 2.42 and a beta of 1.38.

ITT (NYSE:ITT) last posted its earnings results on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.11. ITT had a return on equity of 18.96% and a net margin of 12.67%.The business had revenue of $999.10 million during the quarter, compared to analyst estimates of $973.69 million. During the same quarter in the previous year, the firm earned $1.46 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. Research analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, December 1st. ITT’s dividend payout ratio is 22.01%.

ITT Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.