Rep. Josh Gottheimer Unloads 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 Up 0.8 %

Shares of ITT stock traded up $1.17 on Friday, reaching $153.03. 251,803 shares of the stock were exchanged, compared to its average volume of 386,154. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The stock has a market cap of $12.47 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 1.87 and a beta of 1.41. The firm has a 50 day moving average of $143.77 and a two-hundred day moving average of $136.81. ITT Inc. has a 1-year low of $100.31 and a 1-year high of $154.35.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly 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 firm had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 earnings per share. On average, research analysts anticipate that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

The business 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 dividend of $0.319 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.83%. ITT's dividend payout ratio is presently 21.84%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. KeyCorp raised their price target on shares of ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Robert W. Baird cut 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. Stifel Nicolaus lifted their target price on shares of ITT from $157.00 to $167.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. The Goldman Sachs Group increased 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. Finally, TD Cowen boosted their price objective on ITT from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $157.78.

Institutional Trading of ITT

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

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.