Denise L. Ramos Sells 50,000 Shares of ITT Inc. (ITT) Stock
ITT Inc. (NYSE:ITT) CEO Denise L. Ramos sold 50,000 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $41.35, for a total value of $2,067,500.00. Following the transaction, the chief executive officer now owns 308,032 shares of the company’s stock, valued at $12,737,123.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
ITT Inc. (NYSE:ITT) opened at 40.59 on Tuesday. ITT Inc. has a 52 week low of $30.06 and a 52 week high of $44.00. The stock has a 50 day moving average price of $41.38 and a 200 day moving average price of $38.69. The stock has a market cap of $3.59 billion, a PE ratio of 19.64 and a beta of 1.39.
ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, February 14th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. ITT had a return on equity of 15.41% and a net margin of 7.93%. The business had revenue of $588 million for the quarter, compared to the consensus estimate of $551.89 million. During the same period in the prior year, the business earned $0.58 earnings per share. The business’s revenue was down 11.8% on a year-over-year basis. On average, equities analysts predict that ITT Inc. will post $2.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 13th will be given a $0.128 dividend. This is an increase from ITT’s previous quarterly dividend of $0.12. This represents a $0.51 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, March 9th. ITT’s dividend payout ratio is currently 22.94%.
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A number of equities analysts recently commented on ITT shares. Aegis started coverage on ITT in a report on Friday, December 2nd. They set a “buy” rating and a $47.00 target price for the company. Bank of America Corp upgraded ITT from a “neutral” rating to a “buy” rating in a report on Monday, January 9th. Barclays PLC restated a “buy” rating and set a $49.00 target price on shares of ITT in a report on Wednesday, January 18th. Stifel Nicolaus raised their target price on ITT from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, February 15th. Finally, Oppenheimer Holdings Inc. upgraded ITT from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Thursday, February 16th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $44.88.
Several hedge funds have recently modified their holdings of ITT. JPMorgan Chase & Co. raised its position in ITT by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 305,795 shares of the company’s stock valued at $10,960,000 after buying an additional 42,393 shares during the last quarter. Quantbot Technologies LP acquired a new position in ITT during the third quarter valued at approximately $159,000. Albert D Mason Inc. raised its position in ITT by 68.1% in the third quarter. Albert D Mason Inc. now owns 85,572 shares of the company’s stock valued at $3,067,000 after buying an additional 34,663 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in ITT by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,663,489 shares of the company’s stock valued at $95,459,000 after buying an additional 47,330 shares during the last quarter. Finally, Janus Capital Management LLC raised its position in ITT by 22.4% in the fourth quarter. Janus Capital Management LLC now owns 2,697,341 shares of the company’s stock valued at $104,037,000 after buying an additional 493,695 shares during the last quarter. Institutional investors and hedge funds own 91.15% of the company’s stock.
ITT Company Profile
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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