ITT (ITT) Given a $68.00 Price Target by Oppenheimer Analysts

Oppenheimer set a $68.00 price target on ITT (NYSE:ITT) in a report issued on Thursday morning. The brokerage currently has a buy rating on the conglomerate’s stock.

Several other analysts have also commented on ITT. Zacks Investment Research raised shares of ITT from a hold rating to a buy rating and set a $63.00 target price for the company in a research note on Tuesday, November 13th. Stifel Nicolaus restated a buy rating and issued a $60.00 price target on shares of ITT in a research report on Wednesday, December 19th. Finally, ValuEngine downgraded shares of ITT from a buy rating to a hold rating in a research report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $64.38.

Shares of NYSE:ITT traded down $0.16 during trading on Thursday, reaching $50.74. The company had a trading volume of 341,009 shares, compared to its average volume of 564,339. The firm has a market cap of $4.42 billion, a P/E ratio of 19.59, a P/E/G ratio of 1.14 and a beta of 1.66. ITT has a twelve month low of $44.89 and a twelve month high of $63.04.

ITT (NYSE:ITT) last issued its quarterly earnings results on Friday, November 2nd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. ITT had a net margin of 7.80% and a return on equity of 16.10%. The company had revenue of $680.60 million during the quarter, compared to analyst estimates of $677.36 million. During the same period in the prior year, the business posted $0.66 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts forecast that ITT will post 3.15 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 7th were given a $0.134 dividend. The ex-dividend date was Thursday, December 6th. This represents a $0.54 annualized dividend and a dividend yield of 1.06%. ITT’s dividend payout ratio (DPR) is presently 20.85%.

Large investors have recently modified their holdings of the stock. Paradigm Asset Management Co. LLC acquired a new position in ITT in the 3rd quarter valued at approximately $49,000. Meeder Asset Management Inc. acquired a new position in ITT in the 3rd quarter valued at approximately $128,000. Bessemer Group Inc. increased its stake in ITT by 593.9% in the 3rd quarter. Bessemer Group Inc. now owns 2,831 shares of the conglomerate’s stock valued at $173,000 after buying an additional 2,423 shares during the period. Stratos Wealth Partners LTD. acquired a new position in ITT in the 3rd quarter valued at approximately $176,000. Finally, Boston Private Wealth LLC acquired a new position in ITT in the 3rd quarter valued at approximately $205,000. Institutional investors and hedge funds own 91.10% of the company’s stock.

About ITT

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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