ITT (NYSE:ITT) Sees Large Volume Increase – What’s Next?

ITT Inc. (NYSE:ITT) shares saw strong trading volume on Tuesday . 2,475,767 shares were traded during mid-day trading, an increase of 388% from the previous session’s volume of 507,650 shares.The stock last traded at $170.6170 and had previously closed at $169.49.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ITT shares. Stifel Nicolaus set a $225.00 price target on shares of ITT in a report on Friday, December 5th. Bank of America upped their price target on shares of ITT from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. UBS Group boosted their price objective on ITT from $168.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. KeyCorp lifted their target price on ITT from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, DA Davidson reiterated a “buy” rating and issued a $215.00 price objective on shares of ITT in a research note on Monday. Ten research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $207.13.

ITT Stock Up 1.8%

The company has a market cap of $13.64 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 1.97 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.52. The stock’s fifty day moving average is $180.24 and its two-hundred day moving average is $169.35.

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

ITT Announces Dividend

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

Insider Buying and Selling at ITT

In other news, CFO Emmanuel Caprais sold 5,500 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $185.23, for a total transaction of $1,018,765.00. Following the completion of the transaction, the chief financial officer owned 36,830 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mesa Graziano Cheryl De sold 238 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $183.08, for a total transaction of $43,573.04. Following the sale, the chief accounting officer directly owned 5,062 shares in the company, valued at approximately $926,750.96. This trade represents a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Capital International Investors increased its position in shares of ITT by 0.5% during the 3rd quarter. Capital International Investors now owns 8,538,229 shares of the conglomerate’s stock valued at $1,526,281,000 after purchasing an additional 38,433 shares during the last quarter. Select Equity Group L.P. boosted its stake in ITT by 4.4% in the first 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 in the last quarter. T. Rowe Price Investment Management Inc. grew its position in 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 acquiring an additional 904,654 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of ITT by 11.2% during the third quarter. Alliancebernstein L.P. now owns 1,188,219 shares of the conglomerate’s stock worth $212,406,000 after acquiring an additional 119,601 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of ITT by 3.1% in the 3rd quarter. Invesco Ltd. now owns 1,128,933 shares of the conglomerate’s stock valued at $201,808,000 after purchasing an additional 34,183 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

About ITT

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.