ITT Inc. (ITT) Receives Average Rating of “Hold” from Brokerages
ITT Inc. (NYSE:ITT) has been given a consensus rating of “Hold” by the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $46.33.
A number of equities analysts have recently commented on ITT shares. BidaskClub upgraded ITT from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday, July 18th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $46.00 to $43.00 in a report on Tuesday, June 6th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $49.00 target price on shares of ITT in a report on Wednesday, August 16th.
Shares of ITT (NYSE:ITT) traded up 1.28% during trading on Friday, hitting $40.08. The company had a trading volume of 311,664 shares. ITT has a 52 week low of $32.46 and a 52 week high of $44.00. The stock’s 50-day moving average price is $40.39 and its 200 day moving average price is $40.33. The company has a market capitalization of $3.53 billion, a P/E ratio of 17.16 and a beta of 1.46.
ITT (NYSE:ITT) last announced its earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The firm had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $628.65 million. ITT had a return on equity of 14.17% and a net margin of 8.64%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. On average, equities research analysts forecast that ITT will post $2.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, September 8th. ITT’s payout ratio is currently 21.70%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pinnacle Financial Partners Inc. purchased a new position in ITT during the 2nd quarter valued at $105,000. Riverhead Capital Management LLC boosted its holdings in ITT by 57.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 1,059 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ITT by 10.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 314 shares during the period. Timber Hill LLC purchased a new position in ITT during the 1st quarter valued at $201,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in ITT during the 1st quarter valued at $214,000. Institutional investors own 93.06% of the company’s stock.
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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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