ITT Inc. (NYSE:ITT) CEO Denise L. Ramos sold 50,000 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $41.35, for a total value of $2,067,500.00. Following the completion of the transaction, the chief executive officer now owns 308,032 shares of the company’s stock, valued at $12,737,123.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of ITT Inc. (NYSE:ITT) opened at 40.59 on Tuesday. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 19.64 and a beta of 1.39. The firm’s 50-day moving average price is $41.38 and its 200 day moving average price is $38.69. ITT Inc. has a 52 week low of $30.06 and a 52 week high of $44.00.
ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, February 14th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.06. The business earned $588 million during the quarter, compared to analyst estimates of $551.89 million. ITT had a return on equity of 15.41% and a net margin of 7.93%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.58 EPS. On average, analysts anticipate that ITT Inc. will post $2.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 13th will be paid a dividend of $0.128 per share. The ex-dividend date of this dividend is Thursday, March 9th. This is a positive change from ITT’s previous quarterly dividend of $0.12. This represents a $0.51 annualized dividend and a dividend yield of 1.26%. ITT’s dividend payout ratio (DPR) is currently 22.94%.
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Several research firms recently commented on ITT. Bank of America Corp upgraded ITT from a “neutral” rating to a “buy” rating in a research note on Monday, January 9th. Barclays PLC reiterated a “buy” rating and issued a $49.00 target price on shares of ITT in a research note on Wednesday, January 18th. Stifel Nicolaus upped their target price on ITT from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. CIBC upgraded ITT from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 16th. Finally, Oppenheimer Holdings Inc. upgraded ITT from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Thursday, February 16th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $44.88.
Several large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in ITT during the fourth quarter valued at $33,634,000. Thrivent Financial for Lutherans raised its stake in ITT by 36.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 73,800 shares of the company’s stock valued at $2,846,000 after buying an additional 19,530 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in ITT during the fourth quarter valued at $300,000. Denver Investment Advisors LLC bought a new stake in ITT during the fourth quarter valued at $8,967,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in ITT by 3.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,378 shares of the company’s stock valued at $131,000 after buying an additional 120 shares in the last quarter. 91.15% of the stock is owned by institutional investors and hedge funds.
ITT Company Profile
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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