A number of other analysts also recently weighed in on ITT. Stifel Nicolaus reissued a buy rating and issued a $60.00 price target on shares of ITT in a report on Wednesday, December 19th. Zacks Investment Research raised shares of ITT from a hold rating to a buy rating and set a $63.00 price target for the company in a report on Tuesday, November 13th. ValuEngine downgraded shares of ITT from a buy rating to a hold rating in a report on Tuesday, October 16th. Gordon Haskett began coverage on shares of ITT in a report on Friday, October 12th. They issued a buy rating for the company. Finally, Robert W. Baird reissued a buy rating and issued a $65.00 price target on shares of ITT in a report on Wednesday, November 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $64.38.
Shares of NYSE ITT traded down $0.16 during trading hours on Thursday, hitting $50.74. 341,009 shares of the stock were exchanged, compared to its average volume of 564,339. The company has a market cap of $4.42 billion, a P/E ratio of 19.59, a P/E/G ratio of 1.14 and a beta of 1.66. ITT has a one year low of $44.89 and a one year high of $63.04.
The business also recently declared a quarterly dividend, which was paid on Friday, December 28th. Shareholders of record on Friday, December 7th were issued a $0.134 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, December 6th. ITT’s dividend payout ratio (DPR) is presently 20.85%.
Large investors have recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC bought a new position in shares of ITT during the 3rd quarter worth about $49,000. Meeder Asset Management Inc. bought a new position in shares of ITT during the 3rd quarter worth about $128,000. Bessemer Group Inc. lifted its holdings in shares of ITT by 593.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,831 shares of the conglomerate’s stock worth $173,000 after acquiring an additional 2,423 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of ITT during the 3rd quarter worth about $176,000. Finally, Boston Private Wealth LLC bought a new position in shares of ITT during the 3rd quarter worth about $205,000. 91.10% of the stock is owned by institutional investors.
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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