Other research analysts have also recently issued reports about the company. ValuEngine cut ITT from a buy rating to a hold rating in a report on Tuesday, October 16th. Gordon Haskett began coverage on ITT in a report on Friday, October 12th. They issued a buy rating for the company. Zacks Investment Research lowered ITT from a buy rating to a hold rating in a research report on Wednesday, October 10th. UBS Group lifted their price objective on ITT from $57.00 to $60.00 and gave the stock a sell rating in a research report on Thursday, August 30th. Finally, Seaport Global Securities reiterated a buy rating and issued a $69.00 price objective on shares of ITT in a research report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $66.63.
Shares of ITT stock traded down $0.25 during midday trading on Wednesday, hitting $56.56. The company had a trading volume of 733,908 shares, compared to its average volume of 947,608. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.46 and a beta of 1.71. ITT has a 1-year low of $46.10 and a 1-year high of $63.04.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be given a dividend of $0.134 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.54 annualized dividend and a dividend yield of 0.95%. ITT’s payout ratio is currently 20.85%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sun Life Financial INC acquired a new position in shares of ITT in the 2nd quarter valued at approximately $375,000. Bank of America Corp DE lifted its stake in ITT by 2.5% in the 2nd quarter. Bank of America Corp DE now owns 1,055,247 shares of the conglomerate’s stock valued at $55,157,000 after acquiring an additional 25,508 shares in the last quarter. BlackRock Inc. lifted its stake in ITT by 1.3% in the 2nd quarter. BlackRock Inc. now owns 7,747,776 shares of the conglomerate’s stock valued at $404,973,000 after acquiring an additional 100,364 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in ITT by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 34,248 shares of the conglomerate’s stock valued at $1,790,000 after acquiring an additional 986 shares in the last quarter. Finally, Vident Investment Advisory LLC lifted its stake in ITT by 68.0% in the 2nd quarter. Vident Investment Advisory LLC now owns 16,404 shares of the conglomerate’s stock valued at $857,000 after acquiring an additional 6,638 shares in the last quarter. Institutional investors and hedge funds own 90.85% of the company’s stock.
ITT Company Profile
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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