Renaissance Technologies LLC Has $68.99 Million Stake in ITT Inc. $ITT

Renaissance Technologies LLC raised its stake in ITT Inc. (NYSE:ITT) by 309.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 362,075 shares of the conglomerate’s stock after buying an additional 273,675 shares during the quarter. Renaissance Technologies LLC’s holdings in ITT were worth $68,986,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its position in shares of ITT by 55,929.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate’s stock valued at $263,458,000 after buying an additional 1,515,695 shares during the last quarter. Norges Bank purchased a new stake in ITT in the 4th quarter valued at $194,884,000. Vanguard Group Inc. raised its position in ITT by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate’s stock valued at $1,467,976,000 after buying an additional 620,217 shares during the last quarter. Findlay Park Partners LLP lifted its stake in ITT by 63.2% during the 4th quarter. Findlay Park Partners LLP now owns 1,230,902 shares of the conglomerate’s stock valued at $213,574,000 after acquiring an additional 476,702 shares in the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in ITT during the 4th quarter valued at $78,080,000. Institutional investors own 91.59% of the company’s stock.

Insider Buying and Selling

In other 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 completion of the sale, the insider owned 8,729 shares in the company, valued at $1,817,988.83. This trade represents a 44.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $208.41, for a total transaction of $41,682.00. Following the sale, the chief accounting officer owned 7,859 shares of the company’s stock, valued at approximately $1,637,894.19. The trade was a 2.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on ITT. Weiss Ratings lowered shares of ITT from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group assumed coverage on shares of ITT in a research report on Tuesday, March 31st. They set a “buy” rating and a $270.00 price target on the stock. Citigroup boosted their price target on shares of ITT from $252.00 to $254.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Barclays upped their price objective on shares of ITT from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, DA Davidson increased their price objective on shares of ITT from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.75.

ITT Trading Down 0.0%

Shares of ITT stock opened at $195.78 on Monday. The firm has a market cap of $17.50 billion, a PE ratio of 34.53, a P/E/G ratio of 1.84 and a beta of 1.27. ITT Inc. has a 1 year low of $157.66 and a 1 year high of $225.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.53 and a quick ratio of 1.01. The stock has a fifty day moving average price of $192.87 and a 200-day moving average price of $195.74.

ITT (NYSE:ITT) last issued its quarterly earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.21. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.12 billion. ITT had a net margin of 10.80% and a return on equity of 16.83%. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.45 EPS. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. Equities research analysts anticipate that ITT Inc. will post 7.89 EPS for the current year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 8th were paid a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, June 8th. ITT’s payout ratio is presently 27.16%.

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.