ITT (NYSE:ITT) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of ITT (NYSE:ITT) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other analysts have also issued reports on the stock. Bank of America raised 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. Weiss Ratings reissued a “buy (b)” rating on shares of ITT in a research note on Wednesday, October 8th. DA Davidson restated a “buy” rating and set a $215.00 price objective on shares of ITT in a report on Monday, December 8th. KeyCorp upped their target price on ITT from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, TD Cowen increased their target price on ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Ten analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $207.13.

ITT Trading Up 0.5%

ITT stock opened at $174.42 on Friday. The stock has a market cap of $15.01 billion, a PE ratio of 28.97, a P/E/G ratio of 1.85 and a beta of 1.37. The stock has a 50-day moving average price of $180.35 and a 200 day moving average price of $172.27. ITT has a 52 week low of $105.64 and a 52 week high of $197.07. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22.

ITT (NYSE:ITT) last released its earnings results 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. The company had revenue of $999.10 million for the quarter, compared to analyst estimates of $973.69 million. ITT had a net margin of 12.67% and a return on equity of 18.96%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. Equities research analysts predict that ITT will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were given a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, December 1st. ITT’s dividend payout ratio (DPR) is 23.26%.

Insider Transactions at ITT

In other news, CFO Emmanuel Caprais sold 5,500 shares of ITT stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $185.23, for a total value of $1,018,765.00. Following the transaction, the chief financial officer directly owned 36,830 shares of the company’s stock, valued at $6,822,020.90. The trade was a 12.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mesa Graziano Cheryl De sold 238 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $183.08, for a total value of $43,573.04. Following the sale, the chief accounting officer owned 5,062 shares of the company’s stock, valued at $926,750.96. The trade was a 4.49% decrease in their position. The SEC filing for this sale provides additional information. 0.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ITT. Capital International Investors increased its position in shares of ITT by 0.5% in the third quarter. Capital International Investors now owns 8,538,229 shares of the conglomerate’s stock worth $1,526,281,000 after acquiring an additional 38,433 shares in the last quarter. Select Equity Group L.P. boosted its position in ITT by 4.4% during the 1st quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate’s stock worth $615,525,000 after purchasing an additional 200,676 shares during the period. Alliancebernstein L.P. increased its holdings in ITT by 11.2% in the 3rd quarter. Alliancebernstein L.P. now owns 1,188,219 shares of the conglomerate’s stock valued at $212,406,000 after purchasing an additional 119,601 shares in the last quarter. Invesco Ltd. increased its holdings in 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. Finally, Massachusetts Financial Services Co. MA raised its position in ITT by 5.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 960,394 shares of the conglomerate’s stock valued at $150,619,000 after purchasing an additional 45,826 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

About ITT

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.