ITT Inc (ITT) Receives Average Recommendation of “Buy” from Analysts

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.

About ITT

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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Analyst Recommendations for ITT (NYSE:ITT)

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