Gordon Haskett started coverage on shares of ITT (NYSE:ITT) in a research note released on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating on the conglomerate’s stock.

A number of other equities analysts have also commented on ITT. Oppenheimer set a $60.00 price objective on shares of ITT and gave the stock a buy rating in a report on Tuesday, July 10th. Stifel Nicolaus boosted their price objective on shares of ITT from $59.00 to $68.00 and gave the stock a buy rating in a report on Monday, August 6th. Seaport Global Securities reiterated a buy rating and issued a $69.00 price objective on shares of ITT in a report on Tuesday, August 7th. ValuEngine lowered shares of ITT from a buy rating to a hold rating in a report on Wednesday, June 20th. Finally, Zacks Investment Research lowered shares of ITT from a buy rating to a hold rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $66.13.

ITT stock traded up $0.12 during trading on Friday, reaching $52.84. 751,155 shares of the company’s stock were exchanged, compared to its average volume of 610,061. ITT has a 52-week low of $45.96 and a 52-week high of $63.04. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.58 and a beta of 1.64.

ITT (NYSE:ITT) last announced its quarterly earnings results on Friday, August 3rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. ITT had a net margin of 7.02% and a return on equity of 15.40%. The firm had revenue of $696.80 million during the quarter, compared to analysts’ expectations of $685.80 million. During the same period in the prior year, the company earned $0.55 EPS. The firm’s revenue was up 10.4% on a year-over-year basis. On average, analysts predict that ITT will post 3.14 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were issued a $0.134 dividend. The ex-dividend date of this dividend was Friday, September 7th. This represents a $0.54 dividend on an annualized basis and a yield of 1.01%. ITT’s dividend payout ratio is currently 20.85%.

Hedge funds have recently modified their holdings of the business. Radnor Capital Management LLC acquired a new stake in shares of ITT in the 3rd quarter valued at about $297,000. Global X Management Co LLC acquired a new stake in shares of ITT in the 2nd quarter valued at about $293,000. Gifford Fong Associates acquired a new stake in shares of ITT in the 2nd quarter valued at about $261,000. Jane Street Group LLC raised its stake in shares of ITT by 22.9% in the 2nd quarter. Jane Street Group LLC now owns 11,059 shares of the conglomerate’s stock valued at $578,000 after purchasing an additional 2,058 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of ITT by 10.2% in the 2nd quarter. California Public Employees Retirement System now owns 249,982 shares of the conglomerate’s stock valued at $13,067,000 after purchasing an additional 23,107 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

ITT Company Profile

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.

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Analyst Recommendations for ITT (NYSE:ITT)

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