Shares of ITT Corp. (NYSE:ITT) have been given a consensus recommendation of “Hold” by the eleven brokerages that are covering the company. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $41.17.
ITT has been the topic of a number of recent research reports. Seaport Global Securities raised shares of ITT Corp. from an “accumulate” rating to a “buy” rating and upped their price target for the company from $37.00 to $41.00 in a research note on Friday, June 10th. KeyCorp reissued a “sector weight” rating on shares of ITT Corp. in a research note on Wednesday, June 29th. Barclays PLC reduced their target price on shares of ITT Corp. from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of ITT Corp. in a research note on Tuesday, August 23rd. Finally, Zacks Investment Research downgraded shares of ITT Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can bought a new position in ITT Corp. during the second quarter worth approximately $153,000. Creative Planning boosted its position in shares of ITT Corp. by 10.5% in the second quarter. Creative Planning now owns 5,293 shares of the company’s stock valued at $169,000 after buying an additional 501 shares during the last quarter. Parametrica Management Ltd acquired a new position in shares of ITT Corp. during the first quarter valued at about $200,000. LS Investment Advisors LLC boosted its position in shares of ITT Corp. by 72.5% in the second quarter. LS Investment Advisors LLC now owns 5,552 shares of the company’s stock valued at $178,000 after buying an additional 2,333 shares during the last quarter. Finally, Boston Private Wealth LLC acquired a new position in shares of ITT Corp. during the second quarter valued at about $216,000. Hedge funds and other institutional investors own 89.37% of the company’s stock.
ITT Corp. (NYSE:ITT) opened at 35.32 on Friday. The stock has a market capitalization of $3.16 billion, a PE ratio of 13.43 and a beta of 1.28. ITT Corp. has a 12 month low of $29.15 and a 12 month high of $40.52. The company’s 50-day moving average is $35.55 and its 200-day moving average is $35.14.
ITT Corp. (NYSE:ITT) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.07. The company had revenue of $626.20 million for the quarter, compared to the consensus estimate of $620.12 million. ITT Corp. had a net margin of 9.49% and a return on equity of 16.02%. ITT Corp.’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Equities research analysts forecast that ITT Corp. will post $2.40 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a $0.124 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, September 7th. ITT Corp.’s payout ratio is presently 19.01%.
About ITT Corp.
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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