ITT Inc. (ITT) Receives Consensus Recommendation of “Buy” from Analysts
Shares of ITT Inc. (NYSE:ITT) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the stock. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $45.14.
A number of brokerages recently commented on ITT. CIBC raised ITT from a “market perform” rating to an “outperform” rating in a research note on Thursday. Oppenheimer Holdings, Inc. raised ITT from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Thursday. Aegis began coverage on ITT in a research note on Friday, December 2nd. They set a “buy” rating and a $47.00 price objective for the company. Stifel Nicolaus lifted their price objective on ITT from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays PLC reaffirmed a “buy” rating and set a $49.00 price objective on shares of ITT in a research note on Wednesday, January 18th.
Shares of ITT (NYSE:ITT) opened at 43.15 on Friday. ITT has a 1-year low of $30.06 and a 1-year high of $44.00. The stock has a market capitalization of $3.81 billion, a P/E ratio of 20.88 and a beta of 1.39. The stock’s 50 day moving average price is $41.21 and its 200-day moving average price is $37.69.
ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, February 14th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. ITT had a return on equity of 15.41% and a net margin of 7.93%. The business earned $588 million during the quarter, compared to analysts’ expectations of $551.89 million. During the same period in the previous year, the firm earned $0.58 earnings per share. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. Equities research analysts anticipate that ITT will post $2.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be paid a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 1.19%. This is a boost from ITT’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, March 9th. ITT’s payout ratio is presently 22.94%.
In other ITT news, insider Aris C. Chicles sold 30,570 shares of the business’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $41.02, for a total value of $1,253,981.40. Following the completion of the transaction, the insider now directly owns 70,470 shares of the company’s stock, valued at $2,890,679.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in ITT by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 305,795 shares of the company’s stock worth $10,960,000 after buying an additional 42,393 shares during the last quarter. Quantbot Technologies LP acquired a new position in ITT during the third quarter worth about $159,000. Albert D Mason Inc. boosted its position in ITT by 68.1% in the third quarter. Albert D Mason Inc. now owns 85,572 shares of the company’s stock worth $3,067,000 after buying an additional 34,663 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in ITT by 1.5% in the third quarter. Punch & Associates Investment Management Inc. now owns 48,145 shares of the company’s stock worth $1,726,000 after buying an additional 691 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in ITT by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,663,489 shares of the company’s stock worth $95,459,000 after buying an additional 47,330 shares during the last quarter. 91.15% of the stock is owned by hedge funds and other institutional investors.
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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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