ITT Corp. (ITT) Sees Large Volume Increase
Shares of ITT Corp. (NYSE:ITT) saw unusually-strong trading volume on Friday . Approximately 1,124,879 shares traded hands during mid-day trading, an increase of 105% from the previous session’s volume of 548,266 shares.The stock last traded at $36.75 and had previously closed at $35.93.
A number of equities analysts have weighed in on ITT shares. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of ITT Corp. in a research note on Tuesday, August 23rd. Seaport Global Securities raised shares of ITT Corp. from an “accumulate” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $41.00 in a research note on Friday, June 10th. Robert W. Baird reaffirmed a “buy” rating on shares of ITT Corp. in a research note on Friday, May 6th. Zacks Investment Research downgraded shares of ITT Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Finally, Barclays PLC dropped their target price on shares of ITT Corp. from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. ITT Corp. presently has an average rating of “Buy” and a consensus price target of $41.43.
The stock’s 50-day moving average price is $34.15 and its 200 day moving average price is $35.16. The stock has a market capitalization of $3.29 billion and a PE ratio of 13.97.
ITT Corp. (NYSE:ITT) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $626.20 million for the quarter, compared to analyst estimates of $620.12 million. During the same quarter in the previous year, the company earned $0.69 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that ITT Corp. will post $2.40 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be paid a dividend of $0.124 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.50 dividend on an annualized basis and a yield of 1.35%.
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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