ITT Inc. $ITT Position Increased by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. grew its position in shares of ITT Inc. (NYSE:ITT) by 7,616.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,559 shares of the conglomerate’s stock after buying an additional 6,474 shares during the period. Contravisory Investment Management Inc.’s holdings in ITT were worth $1,324,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in ITT during the second quarter worth $1,715,593,000. Findlay Park Partners LLP bought a new stake in ITT during the second quarter valued at $276,395,000. Bank of America Corp DE acquired a new stake in shares of ITT during the second quarter worth $173,436,000. Wellington Management Group LLP raised its holdings in shares of ITT by 16.5% during the second quarter. Wellington Management Group LLP now owns 825,147 shares of the conglomerate’s stock worth $163,181,000 after purchasing an additional 117,155 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in shares of ITT during the second quarter worth $127,872,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target 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. DA Davidson boosted their price objective on shares of ITT from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. KeyCorp increased their price objective on shares of ITT from $250.00 to $263.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Wolfe Research assumed coverage on shares of ITT in a report on Tuesday, September 15th. They issued an “outperform” rating and a $272.00 target price on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $273.00 target price on shares of ITT in a report on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $259.56.

ITT Stock Performance

ITT traded down $0.36 during trading on Tuesday, reaching $201.54. 726,593 shares of the company were exchanged, compared to its average volume of 894,486. ITT Inc. has a 52 week low of $166.96 and a 52 week high of $230.32. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $206.20 and a 200 day moving average of $201.23. The stock has a market cap of $18.02 billion, a P/E ratio of 39.52, a PEG ratio of 1.65 and a beta of 1.25.

ITT (NYSE:ITT) last posted its 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. ITT had a return on equity of 15.90% and a net margin of 8.90%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the business posted $1.64 earnings per share. The firm’s quarterly revenue was up 51.5% compared to the same quarter last year. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. On average, sell-side analysts forecast that ITT Inc. will post 8.25 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Tuesday, September 8th were given a $0.3860 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $1.54 annualized dividend and a yield of 0.8%. ITT’s dividend payout ratio (DPR) is currently 30.20%.

ITT Company Profile

ITT Inc (NYSE: ITT) is a global manufacturer of highly engineered components and technologies serving the transportation, energy, industrial, infrastructure, and aerospace and defense markets. The company develops products designed to support critical applications where reliability, performance, and safety are essential.

ITT operates through three principal business segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. Its products include brake pads and friction materials, shock absorbers, pumps, valves, monitoring and control systems, connectors, switches, and other specialized components.