ITT Inc. (ITT) Downgraded by TheStreet to “C+”
ITT has been the subject of several other research reports. Barclays PLC upgraded shares of ITT from an equal weight rating to an overweight rating and increased their price target for the company from $35.00 to $41.00 in a research report on Monday, October 24th. They noted that the move was a valuation call. Aegis started coverage on shares of ITT in a research report on Friday, December 2nd. They set a buy rating and a $47.00 price target for the company. Zacks Investment Research upgraded shares of ITT from a sell rating to a hold rating in a research report on Friday, November 18th. Bank of America Corporation upgraded shares of ITT from a neutral rating to a buy rating in a research report on Monday, January 9th. Finally, KeyCorp upgraded shares of ITT from a sector weight rating to an overweight rating and set a $40.00 price target for the company in a research report on Monday, November 7th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $44.88.
Shares of ITT (NYSE:ITT) traded down 2.50% during trading on Tuesday, hitting $42.07. 345,735 shares of the stock traded hands. ITT has a 1-year low of $30.06 and a 1-year high of $44.00. The stock has a 50-day moving average of $41.21 and a 200 day moving average of $37.69. The company has a market cap of $3.71 billion, a P/E ratio of 20.35 and a beta of 1.39.
ITT (NYSE:ITT) last posted its quarterly earnings results on Tuesday, February 14th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. The company earned $588 million during the quarter, compared to analyst estimates of $551.89 million. ITT had a net margin of 7.93% and a return on equity of 15.41%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. On average, equities research analysts predict that ITT will post $2.39 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be given a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, March 9th. This is a positive change from ITT’s previous quarterly dividend of $0.12. ITT’s dividend payout ratio (DPR) is currently 22.94%.
In other ITT news, insider Aris C. Chicles sold 30,570 shares of the stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $41.02, for a total transaction of $1,253,981.40. Following the completion of the transaction, the insider now owns 70,470 shares in the company, valued at $2,890,679.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of ITT. Ladenburg Thalmann Financial Services Inc. raised its position in shares of ITT by 3.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,378 shares of the company’s stock worth $131,000 after buying an additional 120 shares in the last quarter. Tyers Asset Management LLC acquired a new position in shares of ITT during the fourth quarter worth $135,000. Advisor Group Inc. raised its position in shares of ITT by 40.7% in the third quarter. Advisor Group Inc. now owns 3,852 shares of the company’s stock worth $138,000 after buying an additional 1,114 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of ITT during the third quarter worth $159,000. Finally, Elkfork Partners LLC acquired a new position in shares of ITT during the fourth quarter worth $185,000. Hedge funds and other institutional investors own 91.15% of the company’s stock.
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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