ITT Inc. (ITT) Given Buy Rating at Robert W. Baird
A number of other brokerages also recently issued reports on ITT. Cowen and Company reaffirmed a buy rating and issued a $50.00 price objective on shares of ITT in a research report on Thursday, September 21st. BidaskClub downgraded shares of ITT from a hold rating to a sell rating in a research report on Saturday, August 5th. Zacks Investment Research downgraded shares of ITT from a buy rating to a hold rating in a research report on Thursday, July 27th. ValuEngine raised shares of ITT from a hold rating to a buy rating in a research report on Thursday, July 6th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $49.00 price objective on shares of ITT in a research report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. ITT currently has an average rating of Buy and an average target price of $47.22.
ITT (NYSE:ITT) traded up 0.24% during mid-day trading on Wednesday, hitting $45.06. 458,643 shares of the company were exchanged. The company has a market capitalization of $3.97 billion, a P/E ratio of 19.30 and a beta of 1.48. The company’s 50-day moving average is $41.88 and its 200 day moving average is $40.65. ITT has a 12-month low of $32.46 and a 12-month high of $45.34.
ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. ITT had a net margin of 8.64% and a return on equity of 14.17%. The business had revenue of $630.90 million during the quarter, compared to the consensus estimate of $628.65 million. During the same period in the prior year, the firm posted $0.67 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Analysts expect that ITT will post $2.46 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were paid a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, September 8th. ITT’s payout ratio is 21.70%.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Advantus Capital Management Inc lifted its stake in shares of ITT by 3.0% during the 1st quarter. Advantus Capital Management Inc now owns 11,293 shares of the conglomerate’s stock valued at $463,000 after buying an additional 332 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of ITT by 10.2% during the 1st quarter. AQR Capital Management LLC now owns 1,295,962 shares of the conglomerate’s stock valued at $53,160,000 after buying an additional 119,933 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of ITT during the 1st quarter valued at approximately $10,386,000. Prudential Financial Inc. lifted its stake in shares of ITT by 273.4% during the 2nd quarter. Prudential Financial Inc. now owns 203,051 shares of the conglomerate’s stock valued at $8,159,000 after buying an additional 148,668 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of ITT by 27.2% during the 2nd quarter. Federated Investors Inc. PA now owns 45,280 shares of the conglomerate’s stock valued at $1,819,000 after buying an additional 9,672 shares in the last quarter. Institutional investors 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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