News headlines about ITT (NYSE:ITT) have been trending somewhat positive this week, according to Accern. The research group identifies positive and negative media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. ITT earned a coverage optimism score of 0.15 on Accern’s scale. Accern also gave media coverage about the conglomerate an impact score of 47.9764490946262 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the news headlines that may have effected Accern Sentiment’s analysis:
- Critical Comparison: Xylem (XYL) and ITT (ITT) (americanbankingnews.com)
- Global Heavy Equipment Connectors Market 2018 – Amphenol, Molex, ITT Interconnect Solutions, Carlisleit (theanalystfinancial.com)
- ValuEngine Downgrades ITT (ITT) to Hold (americanbankingnews.com)
- It Oversaw For-Profit Colleges That Imploded. Now It Seeks a Comeback. (nytimes.com)
- SELLAS Life Sciences Announces Positive Interim Data from Phase 2b NeuVax™ (nelipepimut-S) Clinical Trial in … (globenewswire.com)
A number of research analysts have commented on ITT shares. Oppenheimer reaffirmed a “buy” rating and issued a $60.00 price objective on shares of ITT in a report on Thursday, January 18th. Stifel Nicolaus reissued a “buy” rating and set a $62.00 target price (down from $63.00) on shares of ITT in a report on Tuesday, February 20th. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded ITT from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, UBS assumed coverage on ITT in a research report on Tuesday, January 23rd. They set a “sell” rating and a $55.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $56.33.
ITT (NYSE:ITT) last released its quarterly earnings data on Friday, February 16th. The conglomerate reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. ITT had a return on equity of 14.65% and a net margin of 4.39%. The company had revenue of $683.60 million for the quarter, compared to analyst estimates of $635.71 million. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. research analysts anticipate that ITT will post 3.07 EPS for the current fiscal year.
ITT declared that its board has initiated a share repurchase program on Friday, February 16th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Monday, March 12th were given a dividend of $0.134 per share. This represents a $0.54 annualized dividend and a yield of 1.10%. This is a boost from ITT’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, March 9th. ITT’s payout ratio is presently 20.85%.
In other news, CFO Thomas M. Scalera sold 9,215 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $49.77, for a total value of $458,630.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.
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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