ITT Corp. (ITT) Insider Aris C. Chicles Sells 56,380 Shares of Stock
ITT Corp. (NYSE:ITT) insider Aris C. Chicles sold 56,380 shares of ITT Corp. stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $38.28, for a total transaction of $2,158,226.40. Following the transaction, the insider now directly owns 72,117 shares of the company’s stock, valued at approximately $2,760,638.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
ITT Corp. (NYSE:ITT) traded up 0.47% during midday trading on Thursday, hitting $38.36. 60,657 shares of the stock traded hands. ITT Corp. has a 52 week low of $29.15 and a 52 week high of $40.12. The stock’s 50-day moving average price is $35.24 and its 200-day moving average price is $34.64. The stock has a market capitalization of $3.38 billion, a P/E ratio of 17.59 and a beta of 1.38.
ITT Corp. (NYSE:ITT) last announced its quarterly earnings results on Friday, November 4th. The company reported $0.58 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The business earned $582 million during the quarter, compared to analysts’ expectations of $582.12 million. ITT Corp. had a net margin of 7.93% and a return on equity of 15.41%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 EPS. Equities research analysts expect that ITT Corp. will post $2.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be given a $0.124 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $0.50 annualized dividend and a dividend yield of 1.30%. ITT Corp.’s dividend payout ratio is 22.94%.
Large investors have recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its stake in ITT Corp. by 19.1% in the first quarter. UBS Asset Management Americas Inc. now owns 335,637 shares of the company’s stock valued at $12,382,000 after buying an additional 53,859 shares in the last quarter. GSA Capital Partners LLP bought a new stake in ITT Corp. during the second quarter valued at approximately $292,000. Calvert Investment Management Inc. boosted its stake in ITT Corp. by 2.6% in the second quarter. Calvert Investment Management Inc. now owns 7,148 shares of the company’s stock valued at $229,000 after buying an additional 184 shares in the last quarter. DIAM Co. Ltd. boosted its stake in ITT Corp. by 12.9% in the second quarter. DIAM Co. Ltd. now owns 59,268 shares of the company’s stock valued at $1,884,000 after buying an additional 6,765 shares in the last quarter. Finally, Systematic Financial Management LP boosted its stake in ITT Corp. by 1.3% in the second quarter. Systematic Financial Management LP now owns 2,739,741 shares of the company’s stock valued at $87,616,000 after buying an additional 34,282 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on ITT shares. Barclays PLC reissued a “buy” rating on shares of ITT Corp. in a research note on Monday, November 7th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of ITT Corp. in a research note on Tuesday, August 23rd. Zacks Investment Research downgraded shares of ITT Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Finally, KeyCorp raised shares of ITT Corp. from a “sector weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research note on Monday, November 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $40.57.
About ITT Corp.
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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