ITT Inc. (NYSE:ITT - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $139.25 and last traded at $138.37, with a volume of 122489 shares changing hands. The stock had previously closed at $137.52.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on ITT shares. DA Davidson upped their price target on shares of ITT from $140.00 to $155.00 and gave the company a "buy" rating in a report on Tuesday, March 26th. Citigroup upped their price target on shares of ITT from $139.00 to $157.00 and gave the company a "buy" rating in a report on Monday, April 8th. Stifel Nicolaus upped their price target on shares of ITT from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, April 17th. KeyCorp upped their price target on shares of ITT from $136.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, April 11th. Finally, StockNews.com lowered shares of ITT from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 6th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $138.38.
Check Out Our Latest Report on ITT
ITT Stock Up 1.2 %
The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The firm's 50-day moving average is $130.82 and its 200 day moving average is $120.91. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 1.82 and a beta of 1.43.
ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The firm had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. During the same quarter in the prior year, the business posted $1.17 earnings per share. ITT's revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts anticipate that ITT Inc. will post 5.83 earnings per share for the current fiscal year.
ITT Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.319 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.28 annualized dividend and a yield of 0.92%. ITT's dividend payout ratio is currently 24.90%.
Hedge Funds Weigh In On ITT
A number of institutional investors and hedge funds have recently bought and sold shares of ITT. Natixis Advisors L.P. lifted its position in shares of ITT by 28.7% during the third quarter. Natixis Advisors L.P. now owns 74,409 shares of the conglomerate's stock worth $7,286,000 after purchasing an additional 16,614 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in ITT by 198.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 64,364 shares of the conglomerate's stock valued at $6,302,000 after buying an additional 42,767 shares during the last quarter. Raymond James & Associates grew its stake in shares of ITT by 17.0% during the fourth quarter. Raymond James & Associates now owns 74,618 shares of the conglomerate's stock valued at $8,903,000 after acquiring an additional 10,853 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of ITT by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate's stock worth $169,581,000 after acquiring an additional 5,495 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of ITT by 46.6% in the third quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate's stock worth $60,130,000 after acquiring an additional 195,111 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.
About ITT
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider ITT, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ITT wasn't on the list.
While ITT currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
