Quadrant Capital Group LLC Purchases 520 Shares of ITT Inc. $ITT

Quadrant Capital Group LLC increased its position in ITT Inc. (NYSE:ITT) by 6.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,203 shares of the conglomerate’s stock after acquiring an additional 520 shares during the period. Quadrant Capital Group LLC’s holdings in ITT were worth $1,443,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of ITT in the 1st quarter worth $156,406,000. T. Rowe Price Investment Management Inc. boosted its position in shares of ITT by 97.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate’s stock valued at $237,125,000 after buying an additional 904,654 shares during the last quarter. Findlay Park Partners LLP increased its holdings in ITT by 94.7% in the 1st quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate’s stock worth $102,760,000 after buying an additional 387,000 shares in the last quarter. Select Equity Group L.P. raised its position in ITT by 4.4% in the 1st quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate’s stock worth $615,525,000 after buying an additional 200,676 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in ITT during the 2nd quarter valued at about $21,894,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Stock Down 0.1%

ITT opened at $184.16 on Friday. The company has a current ratio of 1.52, a quick ratio of 0.99 and a debt-to-equity ratio of 0.22. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $197.07. The company has a market capitalization of $14.36 billion, a PE ratio of 30.59, a PEG ratio of 2.42 and a beta of 1.40. The firm’s 50 day simple moving average is $180.36 and its two-hundred day simple moving average is $167.74.

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

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a $0.351 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. ITT’s dividend payout ratio (DPR) is 23.26%.

Analysts Set New Price Targets

ITT has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of ITT from $207.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Stifel Nicolaus increased their price objective on shares of ITT from $202.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Bank of America lifted their target price on shares of ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Wall Street Zen upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of ITT in a research note on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.25.

Insider Activity

In related news, CFO Emmanuel Caprais sold 5,500 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $185.23, for a total value of $1,018,765.00. Following the completion of the sale, the chief financial officer directly owned 36,830 shares of the company’s stock, valued at approximately $6,822,020.90. This represents a 12.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mesa Graziano Cheryl De sold 238 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $183.08, for a total transaction of $43,573.04. Following the sale, the chief accounting officer owned 5,062 shares in the company, valued at approximately $926,750.96. The trade was a 4.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by company insiders.

ITT Company 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.