ITT (NYSE:ITT)‘s stock had its “buy” rating reissued by Oppenheimer in a research note issued to investors on Friday, AnalystRatings.com reports. They currently have a $66.00 price objective on the conglomerate’s stock. Oppenheimer’s price target suggests a potential upside of 14.33% from the company’s previous close.
Other equities research analysts also recently issued research reports about the stock. TheStreet upgraded shares of ITT from a “c+” rating to a “b-” rating in a research note on Tuesday, June 2nd. Robert W. Baird lifted their price target on ITT from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Stifel Nicolaus cut their price target on ITT from $84.00 to $52.00 in a report on Sunday, April 19th. Finally, UBS Group lifted their price target on ITT from $64.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 8th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $67.13.
Shares of NYSE:ITT opened at $57.73 on Friday. ITT has a 52 week low of $35.41 and a 52 week high of $75.56. The company’s fifty day moving average is $57.54 and its 200-day moving average is $57.17. The company has a market capitalization of $4.98 billion, a PE ratio of 15.11, a P/E/G ratio of 3.23 and a beta of 1.60.
In other ITT news, insider Farrokh Batliwala sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $65.00, for a total transaction of $162,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Orlando D. Ashford sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $63.09, for a total value of $252,360.00. Following the transaction, the director now directly owns 18,277 shares of the company’s stock, valued at approximately $1,153,095.93. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in ITT by 53.3% in the first quarter. JPMorgan Chase & Co. now owns 4,520,456 shares of the conglomerate’s stock valued at $205,048,000 after acquiring an additional 1,571,880 shares during the period. Macquarie Group Ltd. boosted its position in shares of ITT by 25.1% during the fourth quarter. Macquarie Group Ltd. now owns 2,850,402 shares of the conglomerate’s stock valued at $210,674,000 after buying an additional 572,459 shares during the last quarter. State Street Corp boosted its position in shares of ITT by 2.9% during the first quarter. State Street Corp now owns 2,161,391 shares of the conglomerate’s stock valued at $98,393,000 after buying an additional 61,753 shares during the last quarter. Paradice Investment Management LLC boosted its position in shares of ITT by 6.2% during the first quarter. Paradice Investment Management LLC now owns 1,544,405 shares of the conglomerate’s stock valued at $70,054,000 after buying an additional 89,694 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of ITT by 3.1% during the first quarter. Geode Capital Management LLC now owns 1,081,619 shares of the conglomerate’s stock valued at $49,061,000 after buying an additional 32,199 shares during the last quarter. Institutional investors own 90.95% of the company’s stock.
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: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.
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