Swiss National Bank Has $15.41 Million Holdings in ITT Inc. (NYSE:ITT)

Posted by Defense World Staff on Aug 23rd, 2023

Swiss National Bank trimmed its holdings in shares of ITT Inc. (NYSE:ITT – Free Report) by 10.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 178,500 shares of the conglomerate’s stock after selling 21,200 shares during the quarter. Swiss National Bank owned about 0.22% of ITT worth $15,405,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Select Equity Group L.P. bought a new position in shares of ITT in the 4th quarter valued at approximately $106,328,000. Norges Bank bought a new position in shares of ITT in the fourth quarter valued at approximately $64,598,000. GW&K Investment Management LLC raised its position in shares of ITT by 135.6% in the first quarter. GW&K Investment Management LLC now owns 846,115 shares of the conglomerate’s stock valued at $73,020,000 after purchasing an additional 487,044 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of ITT in the first quarter worth $35,055,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of ITT during the 4th quarter worth $29,172,000. 91.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ITT has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of ITT from $97.00 to $105.00 in a report on Friday, July 14th. Robert W. Baird raised their target price on ITT from $101.00 to $107.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Stifel Nicolaus upped their price target on ITT from $106.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. KeyCorp raised their price objective on shares of ITT from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Finally, StockNews.com initiated coverage on shares of ITT in a research note on Thursday, August 17th. They set a “strong-buy” rating for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ITT currently has a consensus rating of “Buy” and an average price target of $109.00.

Read Our Latest Report on ITT

Insider Transactions at ITT

In other ITT news, SVP Maurine C. Lembesis sold 4,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $101.44, for a total transaction of $405,760.00. Following the completion of the transaction, the senior vice president now directly owns 17,146 shares in the company, valued at $1,739,290.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

ITT Trading Up 0.2 %

ITT opened at $95.79 on Wednesday. The stock has a market cap of $7.86 billion, a PE ratio of 18.67, a P/E/G ratio of 1.49 and a beta of 1.46. ITT Inc. has a 1 year low of $64.51 and a 1 year high of $102.96. The stock’s 50 day simple moving average is $95.19 and its 200-day simple moving average is $88.64.

ITT (NYSE:ITT – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The conglomerate reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. ITT had a net margin of 13.48% and a return on equity of 18.43%. The company had revenue of $833.90 million during the quarter, compared to the consensus estimate of $795.91 million. During the same period last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. Equities analysts forecast that ITT Inc. will post 5.06 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a $0.29 dividend. The ex-dividend date is Thursday, August 31st. This represents a $1.16 annualized dividend and a dividend yield of 1.21%. ITT’s dividend payout ratio is currently 22.61%.

ITT Profile

(Free Report)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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.