ITT Inc. (NYSE:ITT - Get Free Report) CAO Graziano De sold 500 shares of ITT stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $214.01, for a total transaction of $107,005.00. Following the completion of the transaction, the chief accounting officer owned 6,659 shares in the company, valued at approximately $1,425,092.59. This trade represents a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
ITT Price Performance
NYSE ITT opened at $214.50 on Friday. ITT Inc. has a 1 year low of $166.96 and a 1 year high of $230.32. The business's fifty day moving average is $202.44 and its two-hundred day moving average is $199.98. The stock has a market capitalization of $19.13 billion, a P/E ratio of 44.14, a P/E/G ratio of 1.52 and a beta of 1.25. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.29.
ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The conglomerate reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.18. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. ITT had a return on equity of 15.47% and a net margin of 8.07%. The company's revenue was up 44.2% compared to the same quarter last year. During the same period last year, the company posted $1.78 EPS. On average, research analysts forecast that ITT Inc. will post 8.60 earnings per share for the current fiscal year.
ITT Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be issued a dividend of $0.3860 per share. This represents a $1.54 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, December 4th. ITT's dividend payout ratio is currently 31.69%.
Institutional Trading of ITT
Several hedge funds and other institutional investors have recently modified their holdings of ITT. Pension & Wealth Management Advisors Inc. purchased a new position in shares of ITT during the third quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in ITT in the 2nd quarter worth about $28,000. IFG Advisory LLC lifted its stake in ITT by 613.6% in the 3rd quarter. IFG Advisory LLC now owns 157 shares of the conglomerate's stock worth $32,000 after acquiring an additional 135 shares in the last quarter. Trust Co. of Vermont purchased a new stake in ITT in the 2nd quarter worth about $33,000. Finally, Jacobi Capital Management LLC acquired a new stake in ITT during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 91.59% of the company's stock.
Analysts Set New Price Targets
ITT has been the topic of a number of analyst reports. Wolfe Research began coverage on ITT in a research note on Tuesday, September 15th. They issued an "outperform" rating and a $272.00 price target on the stock. BMO Capital Markets reaffirmed an "outperform" rating and set a $273.00 price objective on shares of ITT in a research note on Friday, August 7th. Weiss Ratings upgraded shares of ITT from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. Stifel Nicolaus lifted their target price on shares of ITT from $256.00 to $259.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Citigroup dropped their target price on shares of ITT from $267.00 to $251.00 and set a "buy" rating on the stock in a research report on Friday, November 6th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $258.78.
Read Our Latest Research Report on ITT
Top ITT Stories
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ITT Company Profile
(
Get Free Report)
ITT Inc. is a global manufacturer of engineered components and technology serving industrial, transportation, aerospace and defense, and energy markets. Its products include pumps and valves, brake pads and shock absorbers, and specialized connectors and control components. The company operates through three main businesses: Motion Technologies, Industrial Process, and Connect & Control Technologies. These businesses provide products and services used in applications ranging from automotive braking systems and industrial fluid handling to aerospace equipment and energy infrastructure.
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