ITT Inc. (NYSE:ITT) insider Denise L. Ramos sold 161,100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $50.14, for a total transaction of $8,077,554.00. Following the sale, the insider now owns 283,032 shares of the company’s stock, valued at $14,191,224.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
ITT Inc. (ITT) traded up $0.26 during trading on Monday, reaching $53.81. 558,190 shares of the company’s stock were exchanged, compared to its average volume of 580,822. ITT Inc. has a 52 week low of $36.93 and a 52 week high of $54.79. The firm has a market cap of $4,712.40, a P/E ratio of 22.04, a PEG ratio of 1.70 and a beta of 1.59.
ITT (NYSE:ITT) last released its earnings results on Thursday, November 2nd. The conglomerate reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. ITT had a net margin of 8.29% and a return on equity of 14.12%. The company had revenue of $645.00 million for the quarter, compared to the consensus estimate of $605.06 million. During the same period in the prior year, the company posted $0.58 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. analysts forecast that ITT Inc. will post 2.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a $0.128 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 0.95%. ITT’s dividend payout ratio is 21.89%.
ITT has been the subject of a number of analyst reports. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Seaport Global Securities restated a “buy” rating on shares of ITT in a research note on Monday, November 6th. KeyCorp restated a “buy” rating on shares of ITT in a research note on Friday, November 3rd. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Thursday, October 12th. Finally, Deutsche Bank raised shares of ITT from a “hold” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $55.00 in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. ITT has an average rating of “Buy” and an average price target of $50.88.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of ITT by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,014,284 shares of the conglomerate’s stock valued at $322,014,000 after acquiring an additional 74,138 shares during the period. Janus Henderson Group PLC increased its stake in ITT by 2.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,132,953 shares of the conglomerate’s stock worth $138,696,000 after purchasing an additional 80,975 shares in the last quarter. FMR LLC increased its stake in ITT by 12.7% during the 2nd quarter. FMR LLC now owns 2,844,070 shares of the conglomerate’s stock worth $114,274,000 after purchasing an additional 319,880 shares in the last quarter. Macquarie Group Ltd. increased its stake in ITT by 18.5% during the 3rd quarter. Macquarie Group Ltd. now owns 2,615,074 shares of the conglomerate’s stock worth $115,769,000 after purchasing an additional 407,746 shares in the last quarter. Finally, State Street Corp increased its stake in ITT by 1.2% during the 2nd quarter. State Street Corp now owns 2,331,009 shares of the conglomerate’s stock worth $93,659,000 after purchasing an additional 26,802 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.
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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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