ITT Inc. (NYSE:ITT)‘s stock had its “buy” rating reaffirmed by Robert W. Baird in a research report issued on Wednesday. They presently have a $51.00 price target on the conglomerate’s stock. Robert W. Baird’s price objective indicates a potential upside of 13.76% from the company’s previous close.
A number of other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of ITT from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Cowen and Company restated a “buy” rating and set a $50.00 price objective on shares of ITT in a research report on Thursday, September 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 target price on shares of ITT in a research note on Wednesday, August 16th. Zacks Investment Research downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $47.22.
Shares of ITT (ITT) traded up 0.18% during trading on Wednesday, hitting $44.91. The stock had a trading volume of 199,833 shares. ITT has a 52-week low of $32.46 and a 52-week high of $45.09. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 19.23 and a beta of 1.48. The firm’s 50-day moving average is $41.46 and its 200 day moving average is $40.55.
ITT (NYSE:ITT) last issued its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. ITT had a return on equity of 14.17% and a net margin of 8.64%. The business had revenue of $630.90 million during the quarter, compared to the consensus estimate of $628.65 million. During the same period last year, the company earned $0.67 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts expect that ITT will post $2.46 EPS for the current year.
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In other news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ITT. World Asset Management Inc raised its holdings in shares of ITT by 0.3% in the 1st quarter. World Asset Management Inc now owns 5,487 shares of the conglomerate’s stock valued at $225,000 after buying an additional 19 shares during the period. United Capital Financial Advisers LLC lifted its stake in ITT by 0.6% during the 1st quarter. United Capital Financial Advisers LLC now owns 6,600 shares of the conglomerate’s stock worth $271,000 after acquiring an additional 42 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in ITT by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,940 shares of the conglomerate’s stock worth $520,000 after acquiring an additional 56 shares in the last quarter. Stephens Inc. AR lifted its stake in ITT by 2.4% during the 2nd quarter. Stephens Inc. AR now owns 5,532 shares of the conglomerate’s stock worth $222,000 after acquiring an additional 130 shares in the last quarter. Finally, Synovus Financial Corp lifted its stake in ITT by 2.6% during the 2nd quarter. Synovus Financial Corp now owns 5,489 shares of the conglomerate’s stock worth $222,000 after acquiring an additional 138 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.
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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