ITT Inc. (ITT) Downgraded by Goldman Sachs Group, Inc. (The) to Neutral

Goldman Sachs Group, Inc. (The) downgraded shares of ITT Inc. (NYSE:ITT) from a buy rating to a neutral rating in a report released on Tuesday. The firm currently has $43.00 target price on the conglomerate’s stock, down from their previous target price of $46.00.

Other analysts also recently issued research reports about the company. TheStreet raised ITT from a c+ rating to a b rating in a research note on Monday, March 27th. Stifel Nicolaus boosted their price objective on ITT from $49.00 to $51.00 and gave the stock a buy rating in a research note on Tuesday, May 9th. CIBC raised ITT from a market perform rating to an outperform rating in a research note on Thursday, February 16th. Finally, Oppenheimer Holdings, Inc. raised ITT from a market perform rating to an outperform rating and set a $50.00 price objective on the stock in a research note on Thursday, February 16th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $46.67.

Analyst Recommendations for ITT (NYSE:ITT)

ITT (NYSE:ITT) opened at 39.58 on Tuesday. The stock has a market cap of $3.51 billion, a PE ratio of 18.24 and a beta of 1.35. ITT has a 52-week low of $30.06 and a 52-week high of $44.00. The firm has a 50-day moving average price of $40.20 and a 200 day moving average price of $40.63.

ITT (NYSE:ITT) last announced its earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. The firm had revenue of $625.80 million for the quarter, compared to the consensus estimate of $607.08 million. ITT had a return on equity of 14.65% and a net margin of 8.04%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. Equities analysts anticipate that ITT will post $2.42 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by Mideast Time and is the sole property of of Mideast Time. If you are accessing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece can be viewed at https://www.mideasttime.com/itt-inc-itt-downgraded-by-goldman-sachs-group-inc-the-to-neutral/1771682.html.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 12th will be paid a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Thursday, June 8th. ITT’s dividend payout ratio is presently 23.50%.

In other news, CEO Denise L. Ramos sold 50,000 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $41.35, for a total value of $2,067,500.00. Following the sale, the chief executive officer now owns 308,032 shares of the company’s stock, valued at approximately $12,737,123.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in ITT by 10,370.9% in the first quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock worth $298,717,000 after buying an additional 7,212,684 shares in the last quarter. Norges Bank bought a new stake in shares of ITT during the fourth quarter worth about $33,634,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of ITT during the fourth quarter worth about $21,163,000. Janus Capital Management LLC raised its stake in shares of ITT by 22.4% in the fourth quarter. Janus Capital Management LLC now owns 2,697,341 shares of the conglomerate’s stock worth $104,037,000 after buying an additional 493,695 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of ITT by 6.1% in the first quarter. Vanguard Group Inc. now owns 7,940,146 shares of the conglomerate’s stock worth $325,705,000 after buying an additional 454,454 shares during the period. 94.20% of the stock is currently owned by institutional investors.

About ITT

ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company‚Äôs 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ITT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Receive News & Ratings for ITT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.