ITT Inc. (ITT) Given Average Rating of “Buy” by Brokerages
Shares of ITT Inc. (NYSE:ITT) have been given an average rating of “Buy” by the eleven analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $46.67.
Several research firms have recently commented on ITT. TheStreet raised shares of ITT from a “c+” rating to a “b” rating in a research report on Monday, March 27th. BidaskClub raised shares of ITT from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Stifel Nicolaus lifted their price target on shares of ITT from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of ITT from a “buy” rating to a “neutral” rating and reduced their price target for the company from $46.00 to $43.00 in a research report on Tuesday, June 6th.
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Several institutional investors have recently bought and sold shares of ITT. Vanguard Group Inc. increased its position in ITT by 6.1% in the first quarter. Vanguard Group Inc. now owns 7,940,146 shares of the conglomerate’s stock valued at $325,705,000 after buying an additional 454,454 shares during the period. BlackRock Inc. increased its position in ITT by 10,370.9% in the first quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock valued at $298,717,000 after buying an additional 7,212,684 shares during the period. Janus Capital Management LLC increased its position in ITT by 4.8% in the first quarter. Janus Capital Management LLC now owns 2,827,936 shares of the conglomerate’s stock valued at $116,002,000 after buying an additional 130,595 shares during the period. FMR LLC increased its position in ITT by 6.7% in the first quarter. FMR LLC now owns 2,524,190 shares of the conglomerate’s stock valued at $103,542,000 after buying an additional 159,163 shares during the period. Finally, State Street Corp increased its position in ITT by 1.2% in the first quarter. State Street Corp now owns 2,304,207 shares of the conglomerate’s stock valued at $94,518,000 after buying an additional 26,345 shares during the period. Institutional investors and hedge funds own 92.58% of the company’s stock.
ITT (NYSE ITT) traded down 0.36% during midday trading on Monday, reaching $38.76. The company’s stock had a trading volume of 766,506 shares. ITT has a 12-month low of $30.06 and a 12-month high of $44.00. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 17.86 and a beta of 1.35. The company’s 50-day moving average is $39.86 and its 200 day moving average is $40.60.
ITT (NYSE:ITT) last released its quarterly earnings results on Monday, May 8th. The conglomerate reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The firm had revenue of $625.80 million for the quarter, compared to analyst estimates of $607.08 million. ITT had a net margin of 8.04% and a return on equity of 14.65%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 EPS. Equities analysts forecast that ITT will post $2.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Monday, June 12th will be paid a $0.128 dividend. The ex-dividend date is Thursday, June 8th. This represents a $0.51 annualized dividend and a dividend yield of 1.32%. ITT’s dividend payout ratio (DPR) is 23.50%.
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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