ITT Inc. (NYSE:ITT) has been given an average recommendation of “Buy” by the fifteen ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $47.38.
ITT has been the topic of a number of recent analyst reports. BidaskClub raised shares of ITT from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, July 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 price target on shares of ITT in a research note on Wednesday, August 16th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $50.00 price target on shares of ITT in a research note on Thursday, September 21st.
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ITT (ITT) traded up 0.24% during mid-day trading on Wednesday, reaching $45.06. 458,643 shares of the company traded hands. The stock’s 50 day moving average price is $41.88 and its 200 day moving average price is $40.65. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 19.30 and a beta of 1.48. ITT has a 52 week low of $32.46 and a 52 week high of $45.34.
ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $628.65 million. ITT had a net margin of 8.64% and a return on equity of 14.17%. ITT’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS. Equities analysts forecast that ITT will post $2.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were paid a $0.128 dividend. The ex-dividend date was Friday, September 8th. This represents a $0.51 dividend on an annualized basis and a yield of 1.14%. ITT’s payout ratio is 21.70%.
In related news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Pinnacle Financial Partners Inc. acquired a new stake in ITT in the 2nd quarter valued at about $105,000. Riverhead Capital Management LLC grew its stake in ITT by 57.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 1,059 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ITT by 10.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 314 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in ITT in the 1st quarter valued at about $214,000. Finally, Stephens Inc. AR acquired a new stake in ITT in the 1st quarter valued at about $222,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
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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