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Shares of ITT Inc. (NYSE:ITT – Get Rating) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $89.20.
A number of brokerages have weighed in on ITT. TheStreet raised ITT from a “c+” rating to a “b-” rating in a report on Tuesday, August 23rd. Robert W. Baird reduced their target price on ITT from $88.00 to $83.00 in a report on Friday, November 4th. Stifel Nicolaus reduced their target price on ITT from $84.00 to $78.00 in a report on Tuesday, October 11th. StockNews.com began coverage on ITT in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Citigroup raised their target price on ITT from $82.00 to $94.00 and gave the company a “buy” rating in a report on Friday, December 9th.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Treasurer of the State of North Carolina raised its position in ITT by 1.6% during the 1st quarter. Treasurer of the State of North Carolina now owns 31,740 shares of the conglomerate’s stock worth $2,387,000 after purchasing an additional 505 shares during the last quarter. Millennium Management LLC raised its position in shares of ITT by 36.6% in the 2nd quarter. Millennium Management LLC now owns 794,297 shares of the conglomerate’s stock worth $53,409,000 after acquiring an additional 212,615 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of ITT in the 1st quarter worth about $26,000. Commerce Bank raised its position in shares of ITT by 69.2% in the 2nd quarter. Commerce Bank now owns 8,842 shares of the conglomerate’s stock worth $595,000 after acquiring an additional 3,617 shares in the last quarter. Finally, Ronald Blue Trust Inc. bought a new position in shares of ITT in the 2nd quarter worth about $26,000. 91.12% of the stock is owned by institutional investors.
ITT Price Performance
Shares of NYSE:ITT opened at $77.03 on Friday. The company has a market capitalization of $6.37 billion, a P/E ratio of 18.34, a P/E/G ratio of 1.61 and a beta of 1.44. ITT has a 1 year low of $63.77 and a 1 year high of $105.01. The business’s 50 day simple moving average is $77.87 and its 200 day simple moving average is $74.01.
ITT (NYSE:ITT – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. The business had revenue of $753.60 million for the quarter, compared to the consensus estimate of $754.17 million. ITT had a return on equity of 16.95% and a net margin of 12.26%. On average, sell-side analysts anticipate that ITT will post 4.4 EPS for the current fiscal year.
ITT Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 1st will be given a dividend of $0.264 per share. This represents a $1.06 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, November 30th. ITT’s dividend payout ratio is currently 25.24%.
ITT Company Profile
(Get Rating)
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.
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