ITT (NYSE:ITT) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of ITT (NYSE:ITT – Get Rating) in a report released on Thursday. The firm issued a strong-buy rating on the conglomerate’s stock.

Several other equities analysts also recently weighed in on ITT. Robert W. Baird raised their price target on ITT from $92.00 to $100.00 and gave the company an outperform rating in a report on Friday, February 10th. Stifel Nicolaus lifted their price objective on ITT from $92.00 to $100.00 and gave the stock a buy rating in a report on Friday, January 20th. KeyCorp lifted their price objective on ITT from $96.00 to $100.00 and gave the stock an overweight rating in a report on Friday, February 10th. DA Davidson lifted their price objective on ITT from $95.00 to $105.00 and gave the stock a buy rating in a report on Monday, February 13th. Finally, Citigroup lifted their price objective on ITT from $94.00 to $101.00 and gave the stock a buy rating in a report on Monday, February 13th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ITT currently has a consensus rating of Moderate Buy and a consensus target price of $95.30.

ITT Price Performance

Shares of NYSE:ITT opened at $79.21 on Thursday. ITT has a 1-year low of $63.77 and a 1-year high of $95.18. The business has a fifty day moving average price of $89.42 and a 200-day moving average price of $80.79. The company has a market capitalization of $6.55 billion, a PE ratio of 18.04, a PEG ratio of 1.37 and a beta of 1.43.

ITT (NYSE:ITT – Get Rating) last issued its quarterly earnings results on Thursday, February 9th. The conglomerate reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. ITT had a return on equity of 17.63% and a net margin of 12.28%. The firm had revenue of $774.60 million during the quarter, compared to the consensus estimate of $766.82 million. During the same period last year, the company earned $1.06 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts anticipate that ITT will post 4.84 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Thursday, March 9th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.46%. This is a boost from ITT’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 8th. ITT’s dividend payout ratio (DPR) is presently 26.42%.

Insider Activity

In other news, SVP Ryan F. Flynn sold 2,197 shares of ITT stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $87.22, for a total transaction of $191,622.34. Following the transaction, the senior vice president now directly owns 16,547 shares of the company’s stock, valued at approximately $1,443,229.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Albert D Mason Inc. lifted its position in shares of ITT by 0.5% during the 4th quarter. Albert D Mason Inc. now owns 24,248 shares of the conglomerate’s stock valued at $1,967,000 after buying an additional 118 shares in the last quarter. Commerce Bank lifted its position in shares of ITT by 1.3% during the 4th quarter. Commerce Bank now owns 9,766 shares of the conglomerate’s stock valued at $792,000 after buying an additional 124 shares in the last quarter. CVA Family Office LLC lifted its holdings in ITT by 32.1% in the 3rd quarter. CVA Family Office LLC now owns 515 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 125 shares in the last quarter. FORA Capital LLC lifted its holdings in ITT by 2.4% in the 2nd quarter. FORA Capital LLC now owns 5,456 shares of the conglomerate’s stock worth $367,000 after purchasing an additional 129 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in ITT by 21.3% in the 3rd quarter. IFP Advisors Inc now owns 740 shares of the conglomerate’s stock worth $44,000 after purchasing an additional 130 shares in the last quarter. 90.16% of the stock is owned by hedge funds and other institutional investors.

About ITT

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ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions primarily for the transportation, industrial, and energy markets. It operates through the following segments: Motion Technologies, Industrial Process, Connect and Control Technologies, and Corporate and Other.