ITT Inc. (ITT) Given Consensus Rating of “Buy” by Analysts
Shares of ITT Inc. (NYSE:ITT) have earned a consensus rating of “Buy” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $46.67.
ITT has been the subject of several recent research reports. Stifel Nicolaus lifted their target price on shares of ITT from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. BidaskClub lowered shares of ITT from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of ITT from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) lowered shares of ITT from a “buy” rating to a “neutral” rating and lowered their target price for the company from $46.00 to $43.00 in a report on Tuesday, June 6th. Finally, ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th.
Large investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its position in ITT by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 22,300 shares of the conglomerate’s stock worth $915,000 after buying an additional 500 shares during the period. Farmers & Merchants Investments Inc. boosted its position in ITT by 1.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 34,696 shares of the conglomerate’s stock worth $1,423,000 after buying an additional 376 shares during the period. Coastline Trust Co purchased a new position in ITT during the first quarter worth $205,000. Retirement Systems of Alabama boosted its position in ITT by 63.5% in the first quarter. Retirement Systems of Alabama now owns 186,186 shares of the conglomerate’s stock worth $7,637,000 after buying an additional 72,290 shares during the period. Finally, Nationwide Fund Advisors boosted its position in ITT by 1.9% in the first quarter. Nationwide Fund Advisors now owns 174,414 shares of the conglomerate’s stock worth $7,154,000 after buying an additional 3,302 shares during the period. 95.19% of the stock is owned by hedge funds and other institutional investors.
Shares of ITT (NYSE:ITT) traded down 0.57% during mid-day trading on Tuesday, reaching $40.34. The company’s stock had a trading volume of 233,611 shares. ITT has a 12 month low of $32.46 and a 12 month high of $44.00. The company has a market cap of $3.55 billion, a P/E ratio of 17.28 and a beta of 1.47. The company has a 50-day moving average of $40.92 and a 200-day moving average of $40.52.
ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. ITT had a net margin of 8.64% and a return on equity of 14.17%. The business had revenue of $630.90 million during the quarter, compared to analyst estimates of $628.65 million. During the same period last year, the business posted $0.67 earnings per share. ITT’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that ITT will post $2.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be given a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, September 8th. ITT’s payout ratio is 21.70%.
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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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