ITT Corp. (ITT) Sees Unusually-High Trading Volume
ITT Corp. (NYSE:ITT) shares saw strong trading volume on Friday . 1,124,879 shares changed hands during 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 recently issued reports on the stock. Seaport Global Securities upgraded shares of ITT Corp. from an “accumulate” rating to a “buy” rating and upped their price objective for the stock from $37.00 to $41.00 in a research report on Friday, June 10th. Barclays PLC lowered their price objective on shares of ITT Corp. from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. KeyCorp reiterated a “sector weight” rating on shares of ITT Corp. in a research report on Wednesday, June 29th. Zacks Investment Research cut shares of ITT Corp. from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Finally, Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of ITT Corp. in a research report on Tuesday, August 23rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. ITT Corp. has a consensus rating of “Buy” and a consensus price target of $41.43.
The stock has a market cap of $3.29 billion and a P/E ratio of 13.97. The company’s 50 day moving average price is $34.15 and its 200-day moving average price is $35.16.
ITT Corp. (NYSE:ITT) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The firm earned $626.20 million during the quarter, compared to the consensus estimate of $620.12 million. During the same quarter last year, the business posted $0.69 earnings per share. ITT Corp.’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that ITT Corp. will post $2.40 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be given a $0.124 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.50 dividend on an annualized basis and a dividend 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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