ITT Inc. (ITT) Given Average Recommendation of “Buy” by Analysts
Shares of ITT Inc. (NYSE:ITT) have been given an average rating of “Buy” by the fifteen brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $47.38.
ITT has been the subject of a number of recent research reports. Robert W. Baird restated a “buy” rating and issued a $51.00 target price on shares of ITT in a research report on Wednesday. BidaskClub downgraded ITT from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research downgraded ITT from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) downgraded 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 research report on Tuesday, June 6th. Finally, ValuEngine downgraded ITT from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of ITT stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total value of $214,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Advantus Capital Management Inc increased its stake in ITT by 3.0% in the 1st quarter. Advantus Capital Management Inc now owns 11,293 shares of the conglomerate’s stock worth $463,000 after purchasing an additional 332 shares during the period. AQR Capital Management LLC increased its stake in ITT by 10.2% in the 1st quarter. AQR Capital Management LLC now owns 1,295,962 shares of the conglomerate’s stock worth $53,160,000 after purchasing an additional 119,933 shares during the period. Renaissance Technologies LLC purchased a new position in ITT in the 1st quarter worth approximately $10,386,000. Prudential Financial Inc. increased its stake in ITT by 273.4% in the 2nd quarter. Prudential Financial Inc. now owns 203,051 shares of the conglomerate’s stock worth $8,159,000 after purchasing an additional 148,668 shares during the period. Finally, Federated Investors Inc. PA increased its stake in ITT by 27.2% in the 2nd quarter. Federated Investors Inc. PA now owns 45,280 shares of the conglomerate’s stock worth $1,819,000 after purchasing an additional 9,672 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.
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ITT (NYSE:ITT) traded down 0.22% on Wednesday, hitting $44.73. 404,534 shares of the stock were exchanged. The company has a 50-day moving average price of $41.46 and a 200-day moving average price of $40.55. ITT has a 52-week low of $32.46 and a 52-week high of $45.09. The firm has a market cap of $3.94 billion, a PE ratio of 19.16 and a beta of 1.48.
ITT (NYSE:ITT) last issued its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. The firm had revenue of $630.90 million during the quarter, compared to the consensus estimate of $628.65 million. ITT had a return on equity of 14.17% and a net margin of 8.64%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. On average, equities research analysts anticipate that ITT will post $2.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were given a $0.128 dividend. The ex-dividend date was Friday, September 8th. This represents a $0.51 dividend on an annualized basis and a yield of 1.14%. ITT’s payout ratio is 21.70%.
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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