VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $4.14 Million Investment in ITT Inc. $ITT

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of ITT Inc. (NYSE:ITT) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 20,958 shares of the conglomerate’s stock, valued at approximately $4,145,000.

Several other institutional investors have also made changes to their positions in ITT. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in ITT during the second quarter valued at approximately $28,000. Trust Co. of Vermont bought a new stake in ITT in the second quarter worth approximately $33,000. Elyxium Wealth LLC bought a new stake in ITT in the fourth quarter worth approximately $29,000. Bayban acquired a new position in shares of ITT during the 4th quarter worth $31,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of ITT by 62.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 76 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ITT news, CAO Graziano De sold 700 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $214.54, for a total value of $150,178.00. Following the sale, the chief accounting officer owned 7,159 shares of the company’s stock, valued at $1,535,891.86. This trade represents a 8.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Luca Savi purchased 5,019 shares of the company’s stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $199.56 per share, for a total transaction of $1,001,591.64. Following the completion of the transaction, the chief executive officer owned 267,373 shares in the company, valued at approximately $53,356,955.88. This trade represents a 1.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

ITT has been the subject of several analyst reports. DA Davidson lifted their price objective on shares of ITT from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Stifel Nicolaus increased their target price on shares of ITT from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. BMO Capital Markets restated an “outperform” rating and set a $273.00 target price on shares of ITT in a report on Friday, August 7th. Weiss Ratings raised ITT from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Finally, Wolfe Research raised ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 price target for the company in a research report on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and an average target price of $244.82.

ITT Stock Performance

Shares of ITT opened at $198.49 on Thursday. The company has a market capitalization of $17.74 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 1.65 and a beta of 1.27. 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 one year low of $166.96 and a one year high of $230.32. The company’s fifty day moving average price is $201.15 and its 200 day moving average price is $199.58.

ITT (NYSE:ITT) last released its quarterly earnings results 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 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%. The business’s quarterly revenue was up 51.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. As a group, analysts expect 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 will be paid on Monday, October 5th. Investors of record on Tuesday, September 8th will be paid a dividend of $0.386 per share. The ex-dividend date is 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%.

ITT Company Profile

ITT Inc is a diversified industrial manufacturer that develops and produces highly engineered components and systems for transportation, energy, industrial, aerospace and defense, and other specialized markets. The company serves original equipment manufacturers, distributors and aftermarket customers through a portfolio of mission-critical products designed to support safety, efficiency and reliability.

ITT operates through three primary business segments. Motion Technologies supplies brake pads, friction materials, shock absorbers, dampers and related components for automotive and rail applications.