Analysts Set ITT Inc. (NYSE:ITT) Target Price at $46.57
ITT Inc. (NYSE:ITT) has earned an average recommendation of “Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $46.57.
ITT has been the topic of several recent research reports. TheStreet raised shares of ITT from a “c+” rating to a “b” rating in a research report on Monday, March 27th. Stifel Nicolaus raised their price target on shares of ITT from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) cut shares of ITT from a “buy” rating to a “neutral” rating and dropped their price target for the company from $46.00 to $43.00 in a research report on Tuesday, June 6th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, July 18th. Finally, ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th.
ITT (NYSE ITT) traded down 0.55% on Friday, reaching $41.40. The company’s stock had a trading volume of 92,556 shares. The company has a market cap of $3.67 billion, a P/E ratio of 19.08 and a beta of 1.47. ITT has a 12 month low of $31.08 and a 12 month high of $44.00. The stock’s 50 day moving average price is $40.04 and its 200 day moving average price is $40.57.
ITT (NYSE:ITT) last issued its earnings results on Monday, May 8th. The conglomerate reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The company had revenue of $625.80 million during the quarter, compared to the consensus estimate of $607.08 million. ITT had a return on equity of 14.65% and a net margin of 8.04%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS. Equities research analysts forecast that ITT will post $2.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 12th were paid a $0.128 dividend. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $0.51 dividend on an annualized basis and a yield of 1.23%. ITT’s dividend payout ratio is 23.50%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITT. Ladenburg Thalmann Financial Services Inc. raised its position in ITT by 3.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,378 shares of the conglomerate’s stock worth $131,000 after buying an additional 120 shares in the last quarter. Timber Hill LLC acquired a new position in ITT during the first quarter worth $201,000. Coastline Trust Co acquired a new position in ITT during the first quarter worth $205,000. Raymond James Financial Services Advisors Inc. acquired a new position in ITT during the first quarter worth $214,000. Finally, Stephens Inc. AR acquired a new position in ITT during the first quarter worth $222,000. Institutional investors and hedge funds own 92.59% of the company’s stock.
ITT Company Profile
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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