Rep. Josh Gottheimer Sells Off Shares of ITT Inc. (NYSE:ITT)

Representative Josh Gottheimer (D-New Jersey) recently sold shares of ITT Inc. (NYSE:ITT). In a filing disclosed on November 06th, the Representative disclosed that they had sold between $1,001 and $15,000 in ITT stock on October 31st. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/25/2024.

ITT Trading Down 0.3 %

Shares of ITT stock opened at $151.77 on Friday. The stock has a market cap of $12.37 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.87 and a beta of 1.41. The firm has a fifty day moving average price of $143.77 and a 200 day moving average price of $136.81. ITT Inc. has a 1 year low of $100.31 and a 1 year high of $154.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09.

ITT (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The company had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 earnings per share. Equities research analysts predict that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.84%. ITT’s payout ratio is currently 21.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ITT. The Goldman Sachs Group raised their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Stifel Nicolaus lifted their price objective on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird lowered their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. KeyCorp lifted their price target on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, TD Cowen raised their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $157.78.

Hedge Funds Weigh In On ITT

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in ITT in the 3rd quarter valued at $26,000. Lynx Investment Advisory purchased a new stake in shares of ITT during the second quarter worth $27,000. UMB Bank n.a. raised its position in shares of ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after buying an additional 180 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of ITT in the second quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. acquired a new position in ITT during the second quarter worth about $36,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About ITT

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.