ITT Inc. (NYSE:ITT) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• ITT Inc. has received a consensus rating of "Moderate Buy" from ten brokerages, comprising one hold and nine buy ratings, with an average price target of $179.22.
• The company reported quarterly earnings of $1.64 per share, surpassing the estimate of $1.62, and its revenue increased by 7.3% year-over-year to $972.40 million.
• ITT recently announced a quarterly dividend of $0.351, with an annualized dividend yield of 0.8%, set to be paid on September 29th.

Shares of ITT Inc. (NYSE:ITT - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $179.2222.

A number of brokerages have recently commented on ITT. Citigroup reissued a "buy" rating and set a $186.00 price target (up from $159.00) on shares of ITT in a research note on Monday, July 14th. Bank of America raised their price objective on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. KeyCorp upped their price target on shares of ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group lifted their price target on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a report on Monday, May 19th.

ITT Stock Performance

NYSE ITT opened at $165.30 on Monday. The firm's fifty day moving average price is $159.03 and its two-hundred day moving average price is $146.18. The stock has a market cap of $12.89 billion, a PE ratio of 25.99, a PEG ratio of 2.04 and a beta of 1.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. ITT has a fifty-two week low of $105.64 and a fifty-two week high of $171.57.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%. The company had revenue of $972.40 million for the quarter, compared to the consensus estimate of $947.48 million. During the same quarter last year, the business posted $1.49 EPS. ITT's revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts expect that ITT will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's dividend payout ratio is currently 22.01%.

Insider Activity at ITT

In related news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the completion of the transaction, the chief executive officer owned 297,536 shares of the company's stock, valued at $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.47% of the company's stock.

Institutional Trading of ITT

A number of institutional investors have recently bought and sold shares of the company. Select Equity Group L.P. lifted its stake in shares of ITT by 4.4% in the 1st quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate's stock valued at $615,525,000 after purchasing an additional 200,676 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in ITT by 97.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock worth $237,125,000 after purchasing an additional 904,654 shares during the period. Nuveen LLC bought a new stake in ITT in the first quarter worth approximately $156,406,000. Nuveen Asset Management LLC lifted its stake in ITT by 17.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,139,303 shares of the conglomerate's stock valued at $162,784,000 after buying an additional 171,474 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of ITT by 14.2% during the 2nd quarter. Invesco Ltd. now owns 1,094,750 shares of the conglomerate's stock worth $171,690,000 after buying an additional 135,768 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

About ITT

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. 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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