ITT Inc. (NYSE:ITT) has earned a consensus rating of “Buy” from the eleven brokerages that are presently covering the firm. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $46.00.
ITT has been the subject of several recent research reports. Barclays PLC reissued a “buy” rating and issued a $49.00 price target on shares of ITT in a research note on Wednesday, January 18th. Bank of America Corp raised ITT from a “neutral” rating to a “buy” rating in a research note on Monday, January 9th. CIBC raised ITT from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 16th. TheStreet cut ITT from a “b” rating to a “c+” rating in a research note on Tuesday, February 14th. Finally, Oppenheimer Holdings Inc. raised ITT from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Thursday, February 16th.
ITT (NYSE:ITT) traded down 2.02% during midday trading on Monday, reaching $38.29. The company’s stock had a trading volume of 423,772 shares. The firm has a market cap of $3.38 billion, a P/E ratio of 18.52 and a beta of 1.39. The firm has a 50 day moving average of $40.54 and a 200 day moving average of $39.26. ITT has a 52-week low of $30.06 and a 52-week high of $44.00.
ITT (NYSE:ITT) last issued its quarterly earnings results on Tuesday, February 14th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.06. The company earned $588 million during the quarter, compared to analysts’ expectations of $551.89 million. ITT had a return on equity of 15.41% and a net margin of 7.93%. The business’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. Analysts anticipate that ITT will post $2.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Monday, March 13th were issued a $0.128 dividend. The ex-dividend date was Thursday, March 9th. This represents a $0.51 annualized dividend and a yield of 1.34%. This is a positive change from ITT’s previous quarterly dividend of $0.12. ITT’s dividend payout ratio is presently 22.94%.
In other news, insider Denise L. Ramos sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $41.00, for a total value of $3,075,000.00. Following the transaction, the insider now owns 258,032 shares in the company, valued at $10,579,312. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aris C. Chicles sold 23,650 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $43.31, for a total value of $1,024,281.50. Following the completion of the transaction, the insider now owns 63,550 shares in the company, valued at approximately $2,752,350.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 176,739 shares of company stock worth $7,318,431. Corporate insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ITT. Ladenburg Thalmann Financial Services Inc. raised its position in ITT by 3.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,378 shares of the company’s stock worth $131,000 after buying an additional 120 shares in the last quarter. Tyers Asset Management LLC bought a new position in ITT during the fourth quarter worth $135,000. Advisor Group Inc. raised its position in ITT by 40.7% in the third quarter. Advisor Group Inc. now owns 3,852 shares of the company’s stock worth $138,000 after buying an additional 1,114 shares in the last quarter. Elkfork Partners LLC bought a new position in ITT during the fourth quarter worth $185,000. Finally, Tower Research Capital LLC TRC raised its position in ITT by 154.1% in the third quarter. Tower Research Capital LLC TRC now owns 5,457 shares of the company’s stock worth $196,000 after buying an additional 3,309 shares in the last quarter. Institutional investors own 91.15% of the company’s stock.
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ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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