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.
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.
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.
Recommended Story: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps
Receive News & Ratings for ITT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT and related companies with MarketBeat.com's FREE daily email newsletter.