ITT (NYSE:ITT) CAO Sells 500 Shares of Company Stock

ITT Inc. (NYSE:ITT) CAO Graziano De sold 500 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $214.01, for a total value of $107,005.00. Following the completion of the transaction, the chief accounting officer directly owned 6,659 shares in the company, valued at $1,425,092.59. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

ITT Trading Down 0.2%

ITT stock traded down $0.51 during trading on Thursday, reaching $214.50. 713,511 shares of the stock traded hands, compared to its average volume of 895,440. The business’s 50 day moving average price is $202.18 and its 200-day moving average price is $199.83. ITT Inc. has a 52-week low of $166.96 and a 52-week high of $230.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.29 and a quick ratio of 0.85. The firm has a market capitalization of $19.13 billion, a PE ratio of 44.14, a P/E/G ratio of 1.53 and a beta of 1.25.

ITT (NYSE:ITT) last released its quarterly earnings data on Wednesday, November 4th. The conglomerate reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.18. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. ITT had a return on equity of 15.47% and a net margin of 8.07%. The company’s quarterly revenue was up 44.2% compared to the same quarter last year. During the same period last year, the business posted $1.78 EPS. As a group, sell-side analysts forecast that ITT Inc. will post 8.60 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be given a dividend of $0.3860 per share. This represents a $1.54 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, December 4th. ITT’s dividend payout ratio is 31.69%.

Institutional Investors Weigh In On ITT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pension & Wealth Management Advisors Inc. acquired a new position in ITT in the 3rd quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of ITT during the second quarter valued at about $28,000. IFG Advisory LLC grew its stake in shares of ITT by 613.6% during the third quarter. IFG Advisory LLC now owns 157 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 135 shares in the last quarter. Trust Co. of Vermont purchased a new stake in shares of ITT during the second quarter worth about $33,000. Finally, Jacobi Capital Management LLC purchased a new stake in shares of ITT during the third quarter worth about $35,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

ITT has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $273.00 price target on shares of ITT in a research report on Friday, August 7th. DA Davidson raised their target price on shares of ITT from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Weiss Ratings raised shares of ITT from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. KeyCorp increased their price target on ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Wolfe Research initiated coverage on ITT in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $272.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $258.78.

ITT Company Profile

ITT Inc. is a global manufacturer of engineered components and technology serving industrial, transportation, aerospace and defense, and energy markets. Its products include pumps and valves, brake pads and shock absorbers, and specialized connectors and control components. The company operates through three main businesses: Motion Technologies, Industrial Process, and Connect & Control Technologies. These businesses provide products and services used in applications ranging from automotive braking systems and industrial fluid handling to aerospace equipment and energy infrastructure.