ITT Inc (NYSE:ITT) has been given a consensus recommendation of “Buy” by the eleven analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $63.40.
ITT has been the topic of a number of recent research reports. KeyCorp upped their target price on ITT from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 13th. ValuEngine downgraded ITT from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Oppenheimer set a $60.00 target price on ITT and gave the stock a “buy” rating in a research note on Tuesday, July 10th. Stifel Nicolaus upped their target price on ITT from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, August 6th. Finally, DA Davidson set a $70.00 target price on ITT and gave the stock a “buy” rating in a research note on Monday, August 6th.
Shares of ITT traded up $0.45 during mid-day trading on Wednesday, reaching $59.50. The company had a trading volume of 490,100 shares, compared to its average volume of 603,523. ITT has a 52-week low of $42.84 and a 52-week high of $63.04. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.53 and a beta of 1.67.
ITT (NYSE:ITT) last issued its earnings results on Friday, August 3rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. ITT had a return on equity of 15.40% and a net margin of 7.02%. The firm had revenue of $696.80 million for the quarter, compared to the consensus estimate of $685.80 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. The company’s revenue was up 10.4% compared to the same quarter last year. equities research analysts expect that ITT will post 3.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 10th will be given a dividend of $0.134 per share. The ex-dividend date is Friday, September 7th. This represents a $0.54 dividend on an annualized basis and a yield of 0.90%. ITT’s dividend payout ratio is currently 20.85%.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in ITT by 1.3% during the second quarter. BlackRock Inc. now owns 7,747,776 shares of the conglomerate’s stock worth $404,973,000 after purchasing an additional 100,364 shares in the last quarter. FMR LLC boosted its position in ITT by 17.4% during the second quarter. FMR LLC now owns 6,671,943 shares of the conglomerate’s stock worth $348,743,000 after purchasing an additional 987,111 shares in the last quarter. LSV Asset Management boosted its position in ITT by 0.6% during the second quarter. LSV Asset Management now owns 1,848,370 shares of the conglomerate’s stock worth $96,614,000 after purchasing an additional 10,200 shares in the last quarter. Paradice Investment Management LLC boosted its position in ITT by 5.7% during the second quarter. Paradice Investment Management LLC now owns 1,761,034 shares of the conglomerate’s stock worth $92,049,000 after purchasing an additional 95,191 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in ITT by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,625,729 shares of the conglomerate’s stock worth $84,977,000 after purchasing an additional 55,555 shares in the last quarter. Institutional investors own 90.63% of the company’s stock.
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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