ITT’s (NYSE:ITT) Buy Rating Reaffirmed at Seaport Global Securities

ITT Inc. (NYSE:ITT)‘s stock had its “buy” rating reiterated by research analysts at Seaport Global Securities in a research report issued to clients and investors on Monday, November 6th. Seaport Global Securities also issued estimates for ITT’s Q4 2017 earnings at $0.60 EPS, FY2017 earnings at $2.54 EPS, Q1 2018 earnings at $0.74 EPS, Q2 2018 earnings at $0.77 EPS, Q3 2018 earnings at $0.75 EPS, Q4 2018 earnings at $0.73 EPS and FY2018 earnings at $2.98 EPS.

Other research analysts have also recently issued reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $49.00 price objective on shares of ITT in a report on Wednesday, August 16th. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Friday, July 28th. Deutsche Bank AG upgraded ITT from a “hold” rating to a “buy” rating and upped their price objective for the company from $46.00 to $55.00 in a report on Monday, October 9th. Robert W. Baird restated a “buy” rating and set a $51.00 price target on shares of ITT in a research note on Wednesday, October 4th. Finally, Cowen Inc restated a “buy” rating and set a $50.00 price target on shares of ITT in a research note on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $50.44.

ITT (ITT) traded down $0.15 during mid-day trading on Monday, hitting $51.94. The stock had a trading volume of 122,576 shares, compared to its average volume of 715,524. The stock has a market capitalization of $4,583.92, a price-to-earnings ratio of 21.44, a PEG ratio of 1.65 and a beta of 1.53. ITT has a 1-year low of $36.93 and a 1-year high of $53.00.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, November 2nd. The conglomerate reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. ITT had a return on equity of 14.12% and a net margin of 8.29%. The business had revenue of $645.00 million during the quarter, compared to analyst estimates of $605.06 million. During the same period in the prior year, the business earned $0.58 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. equities research analysts anticipate that ITT will post 2.53 earnings per share for the current year.

In related news, VP Steven C. Giuliano sold 5,860 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $50.94, for a total value of $298,508.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Denise L. Ramos sold 161,100 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $50.14, for a total value of $8,077,554.00. Following the completion of the transaction, the insider now directly owns 283,032 shares in the company, valued at approximately $14,191,224.48. The disclosure for this sale can be found here. Insiders have sold 176,960 shares of company stock worth $8,845,462 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

A number of large investors have recently bought and sold shares of ITT. OppenheimerFunds Inc. increased its holdings in ITT by 14.9% in the first quarter. OppenheimerFunds Inc. now owns 14,514 shares of the conglomerate’s stock valued at $595,000 after buying an additional 1,885 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of ITT during the first quarter worth about $10,386,000. Schwab Charles Investment Management Inc. grew its holdings in shares of ITT by 4.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 351,402 shares of the conglomerate’s stock worth $14,415,000 after purchasing an additional 15,761 shares during the last quarter. State Street Corp grew its holdings in shares of ITT by 1.2% during the first quarter. State Street Corp now owns 2,304,207 shares of the conglomerate’s stock worth $94,518,000 after purchasing an additional 26,345 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of ITT during the second quarter worth about $550,000. 93.36% of the stock is currently owned by hedge funds and other institutional investors.

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ITT Company Profile

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.

Analyst Recommendations for ITT (NYSE:ITT)

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