ITT Inc. (ITT) CEO Denise L. Ramos Sells 50,000 Shares of Stock
ITT Inc. (NYSE:ITT) CEO Denise L. Ramos sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $41.35, for a total value of $2,067,500.00. Following the transaction, the chief executive officer now owns 308,032 shares in the company, valued at $12,737,123.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of ITT Inc. (NYSE:ITT) traded down 0.83% on Monday, hitting $40.62. The stock had a trading volume of 100,889 shares. ITT Inc. has a 12-month low of $30.06 and a 12-month high of $44.00. The stock has a 50 day moving average of $41.38 and a 200 day moving average of $38.69. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 19.65 and a beta of 1.39.
ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, February 14th. The company reported $0.48 EPS for the quarter, beating 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 firm had revenue of $588 million for the quarter, compared to analysts’ expectations of $551.89 million. During the same period in the prior year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. Equities analysts predict that ITT Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 13th will be issued a $0.128 dividend. The ex-dividend date is Thursday, March 9th. This is a boost from ITT’s previous quarterly dividend of $0.12. This represents a $0.51 dividend on an annualized basis and a yield of 1.25%. ITT’s dividend payout ratio is currently 22.94%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its position in ITT by 22.4% in the second quarter. Public Employees Retirement System of Ohio now owns 34,089 shares of the company’s stock worth $1,090,000 after buying an additional 6,234 shares in the last quarter. Macquarie Group Ltd. boosted its position in ITT by 1.9% in the second quarter. Macquarie Group Ltd. now owns 1,944,430 shares of the company’s stock worth $62,183,000 after buying an additional 36,251 shares in the last quarter. Foundry Partners LLC boosted its position in ITT by 24.2% in the third quarter. Foundry Partners LLC now owns 11,360 shares of the company’s stock worth $407,000 after buying an additional 2,210 shares in the last quarter. First Mercantile Trust Co. acquired a new position in ITT during the third quarter worth approximately $228,000. Finally, Oregon Public Employees Retirement Fund boosted its position in ITT by 2.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 30,684 shares of the company’s stock worth $1,100,000 after buying an additional 621 shares in the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.
A number of research analysts have recently issued reports on ITT shares. Aegis started coverage on ITT in a report on Friday, December 2nd. They issued a “buy” rating and a $47.00 price target on the stock. Barclays PLC reiterated a “buy” rating and issued a $49.00 price target on shares of ITT in a report on Wednesday, January 18th. Bank of America Corp upgraded ITT from a “neutral” rating to a “buy” rating in a report on Monday, January 9th. CIBC upgraded ITT from a “market perform” rating to an “outperform” rating in a report on Thursday, February 16th. Finally, TheStreet downgraded ITT from a “b” rating to a “c+” rating in a report on Tuesday, February 14th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $44.88.
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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