ITT Inc (ITT) Given Average Recommendation of “Buy” by Analysts

Shares of ITT Inc (NYSE:ITT) have received an average rating of “Buy” from the ten ratings firms that are currently covering the stock, reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $66.86.

A number of equities analysts recently commented on ITT shares. Oppenheimer set a $68.00 target price on ITT and gave the company a “buy” rating in a report on Tuesday, November 27th. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Tuesday, November 13th. ValuEngine downgraded ITT from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Gordon Haskett started coverage on ITT in a report on Friday, October 12th. They set a “buy” rating for the company. Finally, Robert W. Baird restated a “buy” rating and set a $65.00 target price on shares of ITT in a report on Wednesday, November 7th.

Shares of ITT stock traded down $1.46 during midday trading on Monday, reaching $50.59. 927,353 shares of the company’s stock traded hands, compared to its average volume of 579,353. The company has a market cap of $4.56 billion, a PE ratio of 19.53, a P/E/G ratio of 1.34 and a beta of 1.73. ITT has a 12 month low of $46.10 and a 12 month high of $63.04.

ITT (NYSE:ITT) last announced its earnings results on Friday, November 2nd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The company had revenue of $680.60 million during the quarter, compared to the consensus estimate of $677.36 million. ITT had a return on equity of 16.10% and a net margin of 7.80%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. On average, equities analysts predict that ITT will post 3.15 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 7th will be issued a $0.134 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.54 dividend on an annualized basis and a yield of 1.06%. ITT’s dividend payout ratio (DPR) is 20.85%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new position in ITT in the third quarter worth $128,000. Bessemer Group Inc. raised its holdings in ITT by 593.9% in the third quarter. Bessemer Group Inc. now owns 2,831 shares of the conglomerate’s stock worth $173,000 after purchasing an additional 2,423 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in ITT in the third quarter worth $176,000. Boston Private Wealth LLC bought a new position in ITT in the third quarter worth $205,000. Finally, Ibex Investors LLC bought a new position in ITT in the third quarter worth $205,000. Institutional investors and hedge funds own 91.17% of the company’s stock.

ITT Company Profile

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.

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Analyst Recommendations for ITT (NYSE:ITT)

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