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.

ILLEGAL ACTIVITY NOTICE: This piece of content was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/07/12/itt-inc-nyseitt-upgraded-by-valuengine-to-buy.html.

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.

About ITT

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.

Analyst Recommendations for ITT (NYSE:ITT)

Receive News & Stock Ratings for ITT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT Inc. and related stocks with our FREE daily email newsletter.