Fifth Third Bancorp Acquires 24,259 Shares of ITT Inc. $ITT

Fifth Third Bancorp grew its stake in shares of ITT Inc. (NYSE:ITT) by 1,096.2% in the first quarter, Holdings Channel reports. The firm owned 26,472 shares of the conglomerate’s stock after acquiring an additional 24,259 shares during the period. Fifth Third Bancorp’s holdings in ITT were worth $5,044,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Elyxium Wealth LLC purchased a new stake in ITT in the 4th quarter valued at about $29,000. Bayban purchased a new position in shares of ITT during the fourth quarter worth approximately $31,000. Parkside Financial Bank & Trust raised its stake in shares of ITT by 62.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 76 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of ITT in the third quarter valued at approximately $37,000. Finally, Entrust Financial LLC bought a new position in ITT in the fourth quarter worth approximately $36,000. 91.59% of the stock is currently owned by institutional investors.

Insider Activity at ITT

In other ITT news, insider Lori B. Marino sold 7,123 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $208.27, for a total transaction of $1,483,507.21. Following the sale, the insider owned 8,729 shares of the company’s stock, valued at approximately $1,817,988.83. This trade represents a 44.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $208.41, for a total transaction of $41,682.00. Following the completion of the sale, the chief accounting officer directly owned 7,859 shares of the company’s stock, valued at approximately $1,637,894.19. This trade represents a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.88% of the company’s stock.

ITT Stock Down 1.4%

ITT stock opened at $192.62 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $193.80 and a two-hundred day moving average of $194.98. The company has a market cap of $17.22 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 1.84 and a beta of 1.27. ITT Inc. has a 12 month low of $155.58 and a 12 month high of $225.26.

ITT (NYSE:ITT) last posted its earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.21. ITT had a return on equity of 16.83% and a net margin of 10.80%.The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm earned $1.45 earnings per share. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. As a group, analysts forecast that ITT Inc. will post 7.91 earnings per share for the current fiscal year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 8th were given a dividend of $0.386 per share. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 8th. ITT’s dividend payout ratio is currently 27.16%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ITT shares. Robert W. Baird set a $246.00 price objective on shares of ITT in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of ITT from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. DA Davidson raised their price objective on ITT from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Stifel Nicolaus set a $246.00 price target on ITT in a research report on Thursday, May 7th. Finally, Wolfe Research raised shares of ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 target price for the company in a report on Thursday, July 9th. Eleven equities research 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.42.

ITT Company Profile

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.