Insider Selling: ITT (NYSE:ITT) CAO Sells $107,005.00 in Stock

ITT Inc. (NYSE:ITT) CAO Graziano De sold 500 shares of the firm’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $214.01, for a total value of $107,005.00. Following the sale, the chief accounting officer directly owned 6,659 shares of the company’s stock, valued at approximately $1,425,092.59. This represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

ITT Trading Down 1.6%

Shares of ITT stock traded down $3.48 on Friday, reaching $211.11. 713,022 shares of the company were exchanged, compared to its average volume of 933,253. The stock has a fifty day moving average price of $202.59 and a 200-day moving average price of $200.12. The firm has a market capitalization of $18.83 billion, a price-to-earnings ratio of 43.44, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. The company has a current ratio of 1.29, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. ITT Inc. has a fifty-two week low of $166.96 and a fifty-two week high of $230.32.

ITT (NYSE:ITT) last released its quarterly earnings results on Wednesday, November 4th. The conglomerate reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.18. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. ITT had a return on equity of 15.47% and a net margin of 8.07%. ITT’s revenue for the quarter was up 44.2% on a year-over-year basis. During the same quarter last year, the company posted $1.78 EPS. On average, analysts expect that ITT Inc. will post 8.60 EPS for the current year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be given a $0.3860 dividend. This represents a $1.54 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, December 4th. ITT’s dividend payout ratio is 31.69%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup lowered their price objective on shares of ITT from $267.00 to $251.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. DA Davidson increased their price objective on ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. KeyCorp upped their price target on ITT from $250.00 to $263.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. BMO Capital Markets restated an “outperform” rating and set a $273.00 price target on shares of ITT in a report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of ITT from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, November 9th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and a consensus target price of $258.78.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of ITT during the 2nd quarter worth approximately $1,715,593,000. Findlay Park Partners LLP bought a new stake in shares of ITT during the 2nd quarter worth about $276,395,000. Bank of America Corp DE acquired a new position in shares of ITT in the second quarter valued at approximately $173,436,000. Jupiter Topco LLC acquired a new stake in shares of ITT during the second quarter worth $127,872,000. Finally, Bank of New York Mellon Corp acquired a new stake in ITT in the 2nd quarter worth about $119,853,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Company Profile

ITT Inc. is a global manufacturer of engineered components and technology serving industrial, transportation, aerospace and defense, and energy markets. Its products include pumps and valves, brake pads and shock absorbers, and specialized connectors and control components. The company operates through three main businesses: Motion Technologies, Industrial Process, and Connect & Control Technologies. These businesses provide products and services used in applications ranging from automotive braking systems and industrial fluid handling to aerospace equipment and energy infrastructure.