ITT Inc. (ITT) Upgraded at ValuEngine
ITT Inc. (NYSE:ITT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.
A number of other equities analysts have also commented on ITT. TheStreet raised ITT from a “c+” rating to a “b” rating in a report on Monday, March 27th. Stifel Nicolaus raised their price target on ITT from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) lowered ITT from a “buy” rating to a “neutral” rating and cut their price target for the stock from $46.00 to $43.00 in a report on Tuesday, June 6th. Finally, BidaskClub raised ITT from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $46.67.
Shares of ITT (ITT) traded up 0.69% during trading on Thursday, reaching $40.59. The company’s stock had a trading volume of 351,624 shares. The stock has a 50-day moving average of $39.29 and a 200-day moving average of $40.48. ITT has a 52-week low of $30.06 and a 52-week high of $44.00. The stock has a market cap of $3.60 billion, a P/E ratio of 18.71 and a beta of 1.47.
ITT (NYSE:ITT) last posted its quarterly earnings results on Monday, May 8th. The conglomerate reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.04. ITT had a return on equity of 14.65% and a net margin of 8.04%. The firm had revenue of $625.80 million during the quarter, compared to analyst estimates of $607.08 million. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts predict that ITT will post $2.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 12th were given a $0.128 dividend. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.26%. ITT’s dividend payout ratio (DPR) is presently 23.50%.
Several large investors have recently modified their holdings of ITT. Macquarie Group Ltd. increased its stake in shares of ITT by 0.6% in the fourth quarter. Macquarie Group Ltd. now owns 1,915,709 shares of the conglomerate’s stock worth $73,889,000 after buying an additional 10,774 shares during the period. Philadelphia Trust Co. increased its stake in shares of ITT by 763.1% in the fourth quarter. Philadelphia Trust Co. now owns 170,816 shares of the conglomerate’s stock worth $6,588,000 after buying an additional 151,025 shares during the period. Highbridge Capital Management LLC increased its stake in shares of ITT by 435.5% in the fourth quarter. Highbridge Capital Management LLC now owns 362,821 shares of the conglomerate’s stock worth $13,995,000 after buying an additional 295,066 shares during the period. Teachers Advisors LLC increased its stake in shares of ITT by 24.4% in the fourth quarter. Teachers Advisors LLC now owns 1,120,718 shares of the conglomerate’s stock worth $43,226,000 after buying an additional 219,763 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of ITT during the fourth quarter worth about $382,000. Institutional investors own 92.58% 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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