ITT Inc. (NYSE:ITT) insider Mary Elizabeth Gustafsson sold 5,000 shares of ITT stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total transaction of $214,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of ITT Inc. (NYSE:ITT) opened at 44.43 on Friday. The firm’s 50-day moving average is $40.49 and its 200 day moving average is $40.30. The stock has a market cap of $3.91 billion, a P/E ratio of 19.03 and a beta of 1.46. ITT Inc. has a 52-week low of $32.46 and a 52-week high of $44.57.
ITT (NYSE:ITT) last announced its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company had revenue of $630.90 million for the quarter, compared to analyst estimates of $628.65 million. ITT had a net margin of 8.64% and a return on equity of 14.17%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. Analysts forecast that ITT Inc. will post $2.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be paid a $0.128 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.51 annualized dividend and a yield of 1.15%. ITT’s dividend payout ratio is currently 21.70%.
Several analysts have weighed in on ITT shares. Cowen and Company reissued a “buy” rating and set a $50.00 target price on shares of ITT in a research report on Thursday. ValuEngine downgraded shares of ITT from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $49.00 target price on shares of ITT in a research report on Wednesday, August 16th. BidaskClub downgraded shares of ITT from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research downgraded shares of ITT from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. ITT has a consensus rating of “Hold” and a consensus price target of $46.75.
A number of institutional investors have recently made changes to their positions in ITT. Pinnacle Financial Partners Inc. purchased a new position in shares of ITT during the second quarter worth approximately $105,000. Riverhead Capital Management LLC grew its position in shares of ITT by 57.0% during the second quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock worth $117,000 after acquiring an additional 1,059 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ITT by 10.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock worth $132,000 after acquiring an additional 314 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of ITT during the first quarter worth approximately $214,000. Finally, Stephens Inc. AR purchased a new position in shares of ITT during the first quarter worth approximately $222,000. Institutional investors own 92.59% of the company’s stock.
ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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