ITT Inc. (NYSE:ITT) Given Consensus Rating of “Buy” by Brokerages

Shares of ITT Inc. (NYSE:ITTGet Rating) have been assigned an average recommendation of “Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $102.55.

ITT has been the topic of a number of recent analyst reports. Oppenheimer downgraded shares of ITT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 28th. Robert W. Baird dropped their target price on shares of ITT from $90.00 to $84.00 in a research report on Wednesday. KeyCorp dropped their target price on shares of ITT from $113.00 to $100.00 in a research report on Wednesday. StockNews.com initiated coverage on shares of ITT in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group dropped their target price on shares of ITT from $109.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, April 7th.

In related news, CEO Luca Savi sold 10,290 shares of the firm’s stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $87.44, for a total value of $899,757.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in ITT during the 4th quarter valued at about $3,095,000. Transcend Wealth Collective LLC purchased a new position in ITT during the 4th quarter valued at about $2,176,000. Barclays PLC increased its holdings in ITT by 13.0% during the 3rd quarter. Barclays PLC now owns 77,268 shares of the conglomerate’s stock valued at $6,633,000 after acquiring an additional 8,888 shares in the last quarter. Credit Suisse AG increased its holdings in ITT by 4.0% during the 3rd quarter. Credit Suisse AG now owns 81,347 shares of the conglomerate’s stock valued at $6,983,000 after acquiring an additional 3,158 shares in the last quarter. Finally, Twinbeech Capital LP purchased a new position in ITT during the 3rd quarter valued at about $2,663,000. Hedge funds and other institutional investors own 95.64% of the company’s stock.

Shares of NYSE:ITT opened at $73.70 on Friday. ITT has a 52 week low of $68.80 and a 52 week high of $105.54. The company’s 50 day moving average is $76.10 and its two-hundred day moving average is $89.71. The company has a market cap of $6.17 billion, a PE ratio of 20.82, a P/E/G ratio of 1.28 and a beta of 1.51.

ITT (NYSE:ITTGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The conglomerate reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. ITT had a net margin of 10.92% and a return on equity of 15.90%. The company had revenue of $726.20 million for the quarter, compared to the consensus estimate of $695.93 million. During the same period in the prior year, the firm posted $1.06 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts expect that ITT will post 4.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 4th. Stockholders of record on Wednesday, March 9th were paid a $0.264 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Tuesday, March 8th. This is a boost from ITT’s previous quarterly dividend of $0.22. ITT’s dividend payout ratio (DPR) is 29.94%.

About ITT (Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.

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