ITT Inc. (NYSE:ITT) has been assigned a consensus rating of “Buy” from the thirteen brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $55.63.
A number of equities analysts have commented on the company. DA Davidson assumed coverage on ITT in a research note on Wednesday, March 21st. They issued a “buy” rating and a $60.00 target price for the company. Stifel Nicolaus restated a “buy” rating and issued a $62.00 target price (down from $63.00) on shares of ITT in a research note on Tuesday, February 20th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded ITT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, UBS assumed coverage on ITT in a research note on Tuesday, January 23rd. They issued a “sell” rating and a $55.00 target price for the company.
In other news, CFO Thomas M. Scalera sold 9,215 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $49.77, for a total transaction of $458,630.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.20% of the company’s stock.
Shares of ITT stock opened at $48.98 on Wednesday. ITT has a 52 week low of $36.93 and a 52 week high of $57.62. The company has a market capitalization of $4,320.04, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.60 and a beta of 1.59.
ITT (NYSE:ITT) last issued its earnings results on Friday, February 16th. The conglomerate reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. ITT had a return on equity of 14.65% and a net margin of 4.39%. The company had revenue of $683.60 million during the quarter, compared to the consensus estimate of $635.71 million. During the same period in the previous year, the firm posted $0.48 earnings per share. ITT’s quarterly revenue was up 16.2% compared to the same quarter last year. equities research analysts predict that ITT will post 3.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be given a dividend of $0.134 per share. The ex-dividend date of this dividend is Friday, March 9th. This is an increase from ITT’s previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a dividend yield of 1.09%. ITT’s payout ratio is currently 20.85%.
ITT declared that its Board of Directors has initiated a stock buyback program on Friday, February 16th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the conglomerate to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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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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