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

ITT Inc. (NYSE:ITTGet Free Report) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have covered the stock in the last year is $117.43.

Several analysts have issued reports on ITT shares. Stifel Nicolaus boosted their target price on shares of ITT from $122.00 to $131.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Citigroup boosted their price objective on shares of ITT from $122.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, December 11th. StockNews.com cut ITT from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 29th. Finally, Bank of America raised ITT from a “neutral” rating to a “buy” rating and upped their target price for the stock from $105.00 to $125.00 in a research report on Thursday, November 16th.

Check Out Our Latest Research Report on ITT

Insider Buying and Selling at ITT

In other news, SVP Ryan F. Flynn sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $113.44, for a total value of $283,600.00. Following the completion of the transaction, the senior vice president now owns 14,047 shares in the company, valued at $1,593,491.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Don Defosset sold 9,996 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $101.25, for a total transaction of $1,012,095.00. Following the completion of the sale, the director now directly owns 20,694 shares in the company, valued at approximately $2,095,267.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Ryan F. Flynn sold 2,500 shares of ITT stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $113.44, for a total value of $283,600.00. Following the completion of the transaction, the senior vice president now owns 14,047 shares in the company, valued at approximately $1,593,491.68. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of ITT

A number of institutional investors and hedge funds have recently bought and sold shares of ITT. Mcmillion Capital Management Inc. bought a new stake in shares of ITT in the 2nd quarter worth $30,000. IFP Advisors Inc boosted its stake in shares of ITT by 63.4% during the 3rd quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 118 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of ITT in the 3rd quarter worth approximately $34,000. KB Financial Partners LLC purchased a new stake in shares of ITT during the first quarter valued at $36,000. Finally, AdvisorNet Financial Inc raised its position in ITT by 101.0% in the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after acquiring an additional 204 shares during the period. 90.73% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Up 0.7 %

NYSE:ITT opened at $120.09 on Friday. The business’s 50-day moving average price is $114.88 and its 200 day moving average price is $104.18. ITT has a 52-week low of $75.82 and a 52-week high of $121.89. The firm has a market cap of $9.86 billion, a P/E ratio of 22.92, a PEG ratio of 1.56 and a beta of 1.43.

ITT (NYSE:ITTGet Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The conglomerate reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.10. The company had revenue of $822.10 million during the quarter, compared to the consensus estimate of $809.87 million. ITT had a return on equity of 18.30% and a net margin of 13.45%. Sell-side analysts expect that ITT will post 5.21 EPS for the current year.

ITT declared that its board has initiated a share repurchase plan on Wednesday, October 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the conglomerate to reacquire up to 12.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were given a $0.29 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.16 annualized dividend and a dividend yield of 0.97%. ITT’s dividend payout ratio is 22.14%.

ITT Company Profile

(Get Free Report

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates in 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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Analyst Recommendations for ITT (NYSE:ITT)

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