Texas Permanent School Fund Corp Decreases Holdings in ITT Inc. $ITT

by · The Cerbat Gem

Texas Permanent School Fund Corp reduced its stake in shares of ITT Inc. (NYSE:ITT – Free Report) by 14.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,048 shares of the conglomerate’s stock after selling 7,837 shares during the period. Texas Permanent School Fund Corp’s holdings in ITT were worth $7,379,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Financial Gravity Companies Inc. purchased a new position in ITT in the second quarter valued at approximately $27,000. Atlantic Union Bankshares Corp bought a new stake in shares of ITT in the second quarter valued at $34,000. MTM Investment Management LLC purchased a new position in shares of ITT during the 2nd quarter valued at $39,000. Clearstead Trust LLC lifted its position in shares of ITT by 40.0% during the 2nd quarter. Clearstead Trust LLC now owns 350 shares of the conglomerate’s stock valued at $55,000 after buying an additional 100 shares during the last quarter. Finally, NewSquare Capital LLC grew its stake in shares of ITT by 37.2% during the 2nd quarter. NewSquare Capital LLC now owns 454 shares of the conglomerate’s stock worth $71,000 after acquiring an additional 123 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ITT shares. Citigroup boosted their price objective on ITT from $207.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Stifel Nicolaus set a $225.00 price target on shares of ITT in a research report on Friday, December 5th. Bank of America upped their price target on shares of ITT from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ITT in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of ITT from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Ten investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, ITT currently has a consensus rating of “Buy” and an average target price of $207.13.

Check Out Our Latest Analysis on ITT

ITT Price Performance

ITT stock opened at $173.99 on Tuesday. The firm has a 50 day moving average of $179.82 and a 200-day moving average of $169.99. The firm has a market capitalization of $14.97 billion, a P/E ratio of 28.90, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. ITT Inc. 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.

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

ITT Dividend Announcement

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

Insider Buying and Selling at ITT

In other ITT news, CFO Emmanuel Caprais sold 5,500 shares of the firm’s 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 sale, the chief financial officer owned 36,830 shares of the company’s stock, valued at $6,822,020.90. This trade represents a 12.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mesa Graziano Cheryl De sold 238 shares of ITT stock in a transaction dated Monday, November 3rd. The shares were 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 approximately $926,750.96. This trade represents 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 company insiders.

ITT Company Profile

(Free Report)

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.

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