ITT Inc. (NYSE:ITT) Upgraded by ValuEngine to “Buy”
ValuEngine upgraded shares of ITT Inc. (NYSE:ITT) from a hold rating to a buy rating in a report released on Thursday.
ITT has been the subject of several other research reports. TheStreet raised shares of ITT from a c+ rating to a b rating in a research note on Monday, March 27th. Stifel Nicolaus raised their price objective on shares of ITT from $49.00 to $51.00 and gave the company a buy rating in a research note on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) lowered shares of ITT from a buy rating to a neutral rating and lowered their price objective for the company from $46.00 to $43.00 in a research note on Tuesday, June 6th. Finally, BidaskClub raised shares of ITT from a sell rating to a hold rating in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $46.67.
Shares of ITT (NYSE ITT) traded up 1.47% during midday trading on Thursday, reaching $41.40. 225,357 shares of the company were exchanged. The firm has a market capitalization of $3.67 billion, a P/E ratio of 19.08 and a beta of 1.47. The firm has a 50-day moving average of $39.29 and a 200 day moving average of $40.48. ITT has a 52 week low of $30.91 and a 52 week high of $44.00.
ITT (NYSE:ITT) last posted its quarterly earnings data on Monday, May 8th. The conglomerate reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. ITT had a net margin of 8.04% and a return on equity of 14.65%. The business had revenue of $625.80 million during the quarter, compared to analyst estimates of $607.08 million. During the same quarter last year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that ITT will post $2.42 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Monday, June 12th were issued a dividend of $0.128 per share. The ex-dividend date was Thursday, June 8th. This represents a $0.51 dividend on an annualized basis and a yield of 1.25%. ITT’s payout ratio is currently 23.50%.
Hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in ITT by 3.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,378 shares of the conglomerate’s stock worth $131,000 after buying an additional 120 shares during the last quarter. Timber Hill LLC bought a new stake in ITT during the first quarter worth $201,000. Coastline Trust Co bought a new stake in ITT during the first quarter worth $205,000. Raymond James Financial Services Advisors Inc. bought a new stake in ITT during the first quarter worth $214,000. Finally, Stephens Inc. AR bought a new stake in ITT during the first quarter worth $222,000. 92.58% of the stock is currently owned by institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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