ITT Inc (NYSE:ITT) Receives Consensus Rating of “Buy” from Analysts

Shares of ITT Inc (NYSE:ITT) have received a consensus rating of “Buy” from the ten analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $66.75.

Several research firms have commented on ITT. Oppenheimer set a $68.00 target price on shares of ITT and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Zacks Investment Research upgraded shares of Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research report on Wednesday, June 12th. ValuEngine upgraded shares of ZIX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Finally, Stifel Nicolaus raised shares of QUALCOMM from a “hold” rating to a “buy” rating and upped their price target for the stock from $57.00 to $100.00 in a research note on Tuesday, April 16th.

NYSE ITT traded up $1.02 on Tuesday, hitting $63.65. The stock had a trading volume of 389,105 shares, compared to its average volume of 470,757. ITT has a one year low of $44.89 and a one year high of $66.88. The stock has a market cap of $5.59 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.93 and a beta of 1.58. The firm’s 50-day simple moving average is $63.06.

ITT (NYSE:ITT) last posted its earnings results on Friday, May 3rd. The conglomerate reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. ITT had a net margin of 11.04% and a return on equity of 16.69%. The firm had revenue of $695.50 million during the quarter, compared to analysts’ expectations of $682.49 million. During the same quarter in the prior year, the firm earned $0.77 EPS. ITT’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts forecast that ITT will post 3.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 10th were paid a $0.147 dividend. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, June 7th. ITT’s dividend payout ratio is currently 18.27%.

In other news, insider Farrokh Batliwala sold 8,950 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.38, for a total value of $549,351.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas M. Scalera sold 64,135 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.57, for a total transaction of $3,948,791.95. Following the sale, the chief financial officer now directly owns 73,701 shares of the company’s stock, valued at $4,537,770.57. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in ITT in the 4th quarter valued at approximately $44,672,000. FMR LLC increased its stake in ITT by 7.5% in the 1st quarter. FMR LLC now owns 6,606,274 shares of the conglomerate’s stock valued at $383,164,000 after buying an additional 458,175 shares during the period. Millennium Management LLC increased its stake in ITT by 157.1% in the 4th quarter. Millennium Management LLC now owns 356,103 shares of the conglomerate’s stock valued at $17,189,000 after buying an additional 217,573 shares during the period. Principal Financial Group Inc. increased its stake in ITT by 45.5% in the 4th quarter. Principal Financial Group Inc. now owns 568,709 shares of the conglomerate’s stock valued at $27,451,000 after buying an additional 177,911 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in ITT by 9,025.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 165,253 shares of the conglomerate’s stock valued at $9,585,000 after buying an additional 163,442 shares during the period. 89.73% of the stock is owned by institutional investors and hedge funds.

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: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.

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Analyst Recommendations for ITT (NYSE:ITT)

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