ITT Corp. (NYSE:ITT) has been given an average recommendation of “Hold” by the eleven ratings firms that are currently covering the firm. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $41.17.
A number of analysts have commented on ITT shares. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of ITT Corp. in a research report on Tuesday, August 23rd. KeyCorp reiterated a “sector weight” rating on shares of ITT Corp. in a research report on Wednesday, June 29th. Barclays PLC decreased their target price on ITT Corp. from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Finally, Seaport Global Securities raised ITT Corp. from an “accumulate” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $41.00 in a report on Friday, June 10th.
Shares of ITT Corp. (NYSE:ITT) traded up 1.27% during trading on Friday, reaching $36.01. The company had a trading volume of 270,169 shares. ITT Corp. has a 52 week low of $29.15 and a 52 week high of $40.52. The firm has a 50-day moving average of $35.50 and a 200 day moving average of $35.18. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 13.69 and a beta of 1.31.
ITT Corp. (NYSE:ITT) last posted its earnings results on Thursday, August 4th. The company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.07. The company had revenue of $626.20 million for the quarter, compared to the consensus estimate of $620.12 million. ITT Corp. had a return on equity of 16.02% and a net margin of 9.49%. ITT Corp.’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. On average, equities research analysts forecast that ITT Corp. will post $2.40 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be paid a $0.124 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.50 annualized dividend and a yield of 1.39%. ITT Corp.’s payout ratio is currently 19.01%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its position in ITT Corp. by 7.5% in the first quarter. Aperio Group LLC now owns 17,929 shares of the company’s stock valued at $661,000 after buying an additional 1,258 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its position in ITT Corp. by 8.4% in the first quarter. Nisa Investment Advisors L.L.C. now owns 21,824 shares of the company’s stock valued at $805,000 after buying an additional 1,700 shares during the last quarter. Parametrica Management Ltd acquired a new position in ITT Corp. during the first quarter valued at approximately $200,000. TIAA CREF Investment Management LLC raised its position in ITT Corp. by 2.8% in the first quarter. TIAA CREF Investment Management LLC now owns 305,058 shares of the company’s stock valued at $11,254,000 after buying an additional 8,279 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in ITT Corp. by 6.4% in the first quarter. Teachers Advisors Inc. now owns 920,889 shares of the company’s stock valued at $33,972,000 after buying an additional 55,366 shares during the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.
About ITT Corp.
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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