Insider Selling: ITT Corp CEO Unloads 80,724 Shares of Stock (ITT)
ITT Corp (NYSE:ITT) CEO Denise L. Ramos sold 80,724 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $47.07, for a total value of $3,799,678.68. Following the completion of the transaction, the chief executive officer now directly owns 257,104 shares in the company, valued at approximately $12,101,885. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on ITT. Analysts at Stifel Nicolaus raised their price target on shares of ITT Corp from $53.00 to $56.00 in a research note on Friday, August 1st. Separately, analysts at Barclays raised their price target on shares of ITT Corp from $42.00 to $46.00 in a research note on Friday, August 1st. They now have an “equal weight” rating on the stock. Finally, analysts at Zacks upgraded shares of ITT Corp from a “neutral” rating to an “outperform” rating in a research note on Monday, July 28th. They now have a $58.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $48.21.
ITT Corp (NYSE:ITT) traded up 0.09% during mid-day trading on Tuesday, hitting $47.05. 832,746 shares of the company’s stock traded hands. ITT Corp has a 1-year low of $32.57 and a 1-year high of $48.84. The stock has a 50-day moving average of $47.37 and a 200-day moving average of $44.31. The company has a market cap of $4.310 billion and a price-to-earnings ratio of 8.49.
ITT Corp (NYSE:ITT) last announced its earnings results on Thursday, July 31st. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.08. The company had revenue of $663.00 million for the quarter, compared to the consensus estimate of $637.02 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts predict that ITT Corp will post $2.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, September 10th.
ITT Corporation (NYSE:ITT) is a diversified manufacturer of engineered critical components and customized technology solutions for industrial markets.
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