ITT Inc. (ITT) Rating Reiterated by Stifel Nicolaus
A number of other analysts have also commented on ITT. BidaskClub lowered shares of ITT from a hold rating to a sell rating in a research note on Saturday, August 5th. Zacks Investment Research lowered shares of ITT from a buy rating to a hold rating in a research note on Thursday, July 27th. ValuEngine upgraded shares of ITT from a hold rating to a buy rating in a research note on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of ITT from a buy rating to a neutral rating and reduced their price target for the stock from $46.00 to $43.00 in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $46.29.
ITT (NYSE ITT) opened at 39.10 on Wednesday. ITT has a 12-month low of $32.46 and a 12-month high of $44.00. The stock has a market capitalization of $3.44 billion, a PE ratio of 16.75 and a beta of 1.47. The company’s 50-day moving average is $40.94 and its 200 day moving average is $40.50.
ITT (NYSE:ITT) last released its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $630.90 million during the quarter, compared to analyst estimates of $628.65 million. ITT had a net margin of 8.64% and a return on equity of 14.17%. ITT’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business earned $0.67 EPS. On average, equities research analysts expect that ITT will post $2.46 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, September 8th. ITT’s payout ratio is 21.70%.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in ITT by 10,370.9% in the first quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock worth $298,717,000 after buying an additional 7,212,684 shares during the last quarter. Janus Henderson Group PLC acquired a new position in ITT during the second quarter worth about $122,628,000. Wedge Capital Management L L P NC acquired a new position in ITT during the second quarter worth about $27,785,000. LSV Asset Management increased its position in ITT by 57.1% in the second quarter. LSV Asset Management now owns 1,614,577 shares of the conglomerate’s stock worth $64,873,000 after buying an additional 587,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in ITT by 6.1% in the first quarter. Vanguard Group Inc. now owns 7,940,146 shares of the conglomerate’s stock worth $325,705,000 after buying an additional 454,454 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors.
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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