ITT (NYSE:ITT) Stock Unloaded Rep. Josh Gottheimer

Posted by Shane Hupp on Nov 8th, 2024

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 Stock Down 0.3 %

Shares of NYSE ITT opened at $151.77 on Friday. 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 Inc. has a 1 year low of $100.31 and a 1 year high of $154.35. The company has a 50 day simple moving average of $143.77 and a 200 day simple moving average of $136.81. The firm 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.

ITT (NYSE:ITT – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. The firm had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.37 EPS. On average, research analysts forecast that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Analysis on ITT

Institutional Trading of ITT

Several hedge funds have recently modified their holdings of ITT. SageView Advisory Group LLC grew its position in ITT by 383.3% in the 1st quarter. SageView Advisory Group LLC now owns 9,666 shares of the conglomerate’s stock valued at $1,315,000 after acquiring an additional 7,666 shares during the last quarter. Vident Advisory LLC boosted its holdings in ITT by 603.0% in the first quarter. Vident Advisory LLC now owns 34,072 shares of the conglomerate’s stock worth $4,635,000 after acquiring an additional 29,225 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in ITT by 19.5% in the first quarter. Russell Investments Group Ltd. now owns 54,785 shares of the conglomerate’s stock worth $7,452,000 after acquiring an additional 8,956 shares in the last quarter. Algert Global LLC acquired a new stake in shares of ITT during the second quarter worth about $1,158,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of ITT by 242.6% during the second quarter. Harbor Capital Advisors Inc. now owns 22,407 shares of the conglomerate’s stock worth $2,895,000 after purchasing an additional 15,866 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

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

(Get 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.