ITT Inc. (ITT) Rating Increased to Hold at BidaskClub
ITT Inc. (NYSE:ITT) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
ITT has been the topic of several other reports. TheStreet raised shares of ITT from a “c+” rating to a “b” rating in a research report on Monday, March 27th. Stifel Nicolaus raised their price objective on shares of ITT from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) downgraded shares of ITT from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $46.00 to $43.00 in a research report on Tuesday, June 6th. CIBC raised shares of ITT from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 16th. Finally, Oppenheimer Holdings, Inc. raised shares of ITT from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $46.67.
ITT (NYSE ITT) traded up 0.08% on Tuesday, reaching $40.02. 496,652 shares of the company were exchanged. The stock has a 50-day moving average price of $40.19 and a 200 day moving average price of $40.63. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 18.44 and a beta of 1.35. 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 data on Monday, May 8th. The conglomerate reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. ITT had a net margin of 8.04% and a return on equity of 14.65%. The company had revenue of $625.80 million for the quarter, compared to the consensus estimate of $607.08 million. During the same period last year, the firm posted $0.59 EPS. ITT’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts forecast that ITT will post $2.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 12th will be issued a $0.128 dividend. This represents a $0.51 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, June 8th. ITT’s payout ratio is 23.50%.
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In other news, CEO Denise L. Ramos sold 50,000 shares of ITT stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $41.35, for a total value of $2,067,500.00. Following the sale, the chief executive officer now owns 308,032 shares of the company’s stock, valued at $12,737,123.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of ITT by 3.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,378 shares of the conglomerate’s stock valued at $131,000 after buying an additional 120 shares during the period. Tyers Asset Management LLC bought a new stake in shares of ITT during the fourth quarter valued at approximately $135,000. Elkfork Partners LLC bought a new stake in shares of ITT during the fourth quarter valued at approximately $185,000. Timber Hill LLC bought a new stake in shares of ITT during the first quarter valued at approximately $201,000. Finally, Coastline Trust Co bought a new stake in shares of ITT during the first quarter valued at approximately $205,000. Hedge funds and other institutional investors own 94.20% of the company’s stock.
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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