ITT Inc. (NYSE:ITT) Short Interest Up 41.0% in December

ITT Inc. (NYSE:ITT) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 2,034,829 shares, an increase of 41.0% from the November 30th total of 1,442,746 shares. Based on an average daily volume of 1,529,072 shares, the short-interest ratio is presently 1.3 days. Approximately 2.4% of the shares of the stock are sold short. Approximately 2.4% of the shares of the stock are sold short. Based on an average daily volume of 1,529,072 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ITT shares. Cowen reaffirmed a “buy” rating on shares of ITT in a research report on Thursday, October 2nd. DA Davidson reissued a “buy” rating and issued a $215.00 price target on shares of ITT in a research note on Monday, December 8th. Wall Street Zen raised ITT from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. TD Cowen upped their target price on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of ITT in a report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $207.13.

ITT Trading Down 0.5%

ITT stock traded down $0.93 during mid-day trading on Tuesday, reaching $176.50. The company’s stock had a trading volume of 713,916 shares, compared to its average volume of 1,197,202. ITT has a 12 month low of $105.64 and a 12 month 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. The business’s 50 day moving average price is $180.42 and its 200 day moving average price is $171.93. The company has a market cap of $15.19 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 2.11 and a beta of 1.37.

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

ITT Announces Dividend

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On ITT

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors lifted its stake in 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 acquiring an additional 38,433 shares in the last quarter. Select Equity Group L.P. raised its holdings in shares of ITT by 4.4% in the first quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate’s stock valued at $615,525,000 after purchasing an additional 200,676 shares during the last quarter. Alliancebernstein L.P. lifted its position 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 valued at $212,406,000 after purchasing an additional 119,601 shares in the last quarter. Invesco Ltd. boosted its holdings in ITT by 3.1% during the third quarter. Invesco Ltd. now owns 1,128,933 shares of the conglomerate’s stock worth $201,808,000 after purchasing an additional 34,183 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in ITT by 5.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 960,394 shares of the conglomerate’s stock worth $150,619,000 after purchasing an additional 45,826 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

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.