Rep. Jefferson Shreve Sells ITT Inc. (NYSE:ITT) Stock

Representative Jefferson Shreve (R-Indiana) recently sold shares of ITT Inc. (NYSE:ITT). In a filing disclosed on March 09th, the Representative disclosed that they had sold between $50,001 and $100,000 in ITT stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

ITT Price Performance

Shares of ITT opened at $133.89 on Wednesday. The company has a 50 day moving average price of $144.90 and a 200-day moving average price of $146.05. ITT Inc. has a fifty-two week low of $121.01 and a fifty-two week high of $161.13. The stock has a market capitalization of $10.90 billion, a PE ratio of 21.25, a PEG ratio of 1.89 and a beta of 1.42. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. Equities analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be given a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is presently 22.22%.

Analyst Ratings Changes

Several research firms recently commented on ITT. UBS Group boosted their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Wolfe Research began coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating on the stock. Stifel Nicolaus cut their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Citigroup cut their price target on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, ITT presently has an average rating of “Moderate Buy” and an average target price of $168.38.

Institutional Trading of ITT

Hedge funds have recently added to or reduced their stakes in the company. Eagle Asset Management Inc. purchased a new stake in ITT during the third quarter worth $67,503,000. Algert Global LLC lifted its holdings in ITT by 101.2% during the third quarter. Algert Global LLC now owns 18,034 shares of the conglomerate’s stock valued at $2,696,000 after purchasing an additional 9,070 shares in the last quarter. Pier 88 Investment Partners LLC lifted its holdings in ITT by 268.1% during the third quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock valued at $4,161,000 after purchasing an additional 20,270 shares in the last quarter. ING Groep NV purchased a new position in ITT during the fourth quarter valued at $1,214,000. Finally, Vest Financial LLC lifted its holdings in ITT by 63.8% during the fourth quarter. Vest Financial LLC now owns 17,004 shares of the conglomerate’s stock valued at $2,430,000 after purchasing an additional 6,626 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

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Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.