Stifel Nicolaus reissued their buy rating on shares of ITT (NYSE:ITT) in a report published on Tuesday morning. Stifel Nicolaus currently has a $63.00 target price on the conglomerate’s stock, up from their previous target price of $60.00.
A number of other brokerages also recently issued reports on ITT. Zacks Investment Research downgraded ITT from a buy rating to a hold rating in a research report on Tuesday, January 9th. ValuEngine downgraded ITT from a buy rating to a hold rating in a research report on Friday, December 1st. Seaport Global Securities reiterated a buy rating on shares of ITT in a research report on Monday, November 6th. KeyCorp reiterated a buy rating on shares of ITT in a research report on Friday, November 3rd. Finally, Robert W. Baird reiterated an outperform rating and set a $60.00 price target (up previously from $51.00) on shares of ITT in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. ITT presently has an average rating of Buy and a consensus price target of $53.88.
Shares of ITT (NYSE:ITT) traded down $0.55 on Tuesday, hitting $54.36. The stock had a trading volume of 324,900 shares, compared to its average volume of 552,210. The company has a market cap of $4,780.00, a P/E ratio of 23.84, a PEG ratio of 1.47 and a beta of 1.59. ITT has a 12-month low of $36.93 and a 12-month high of $55.49.
ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, November 2nd. The conglomerate reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.05. The firm had revenue of $645.00 million during the quarter, compared to the consensus estimate of $605.06 million. ITT had a return on equity of 14.12% and a net margin of 8.29%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $0.58 EPS. sell-side analysts forecast that ITT will post 2.53 earnings per share for the current fiscal year.
In other ITT news, VP Steven C. Giuliano sold 5,860 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $50.94, for a total value of $298,508.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Denise L. Ramos sold 161,100 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $50.14, for a total value of $8,077,554.00. Following the completion of the sale, the insider now owns 283,032 shares of the company’s stock, valued at approximately $14,191,224.48. The disclosure for this sale can be found here. Insiders sold a total of 171,960 shares of company stock valued at $8,630,962 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in ITT by 0.9% in the second quarter. Vanguard Group Inc. now owns 8,014,284 shares of the conglomerate’s stock valued at $322,014,000 after purchasing an additional 74,138 shares during the last quarter. Janus Henderson Group PLC lifted its position in ITT by 2.7% in the third quarter. Janus Henderson Group PLC now owns 3,132,953 shares of the conglomerate’s stock valued at $138,696,000 after purchasing an additional 80,975 shares during the last quarter. FMR LLC lifted its position in ITT by 12.7% in the second quarter. FMR LLC now owns 2,844,070 shares of the conglomerate’s stock valued at $114,274,000 after purchasing an additional 319,880 shares during the last quarter. Macquarie Group Ltd. lifted its position in ITT by 18.5% in the third quarter. Macquarie Group Ltd. now owns 2,615,074 shares of the conglomerate’s stock valued at $115,769,000 after purchasing an additional 407,746 shares during the last quarter. Finally, State Street Corp lifted its position in ITT by 1.2% in the second quarter. State Street Corp now owns 2,331,009 shares of the conglomerate’s stock valued at $93,659,000 after purchasing an additional 26,802 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.
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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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