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.
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.
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