ITT Corp. (NYSE:ITT) declared a quarterly dividend on Tuesday, October 18th. Stockholders of record on Friday, December 9th will be paid a dividend of 0.124 per share on Friday, December 30th. This represents a $0.50 annualized dividend and a dividend yield of 1.46%.
ITT Corp. (NYSE:ITT) opened at 34.02 on Wednesday. The stock’s 50 day moving average is $35.24 and its 200 day moving average is $34.99. The stock has a market cap of $3.05 billion, a PE ratio of 12.94 and a beta of 1.28. ITT Corp. has a 52 week low of $29.15 and a 52 week high of $40.52.
ITT Corp. (NYSE:ITT) last issued 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. ITT Corp. had a net margin of 9.49% and a return on equity of 16.02%. The business had revenue of $626.20 million for the quarter, compared to analyst estimates of $620.12 million. During the same quarter in the prior year, the business posted $0.69 EPS. ITT Corp.’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts predict that ITT Corp. will post $2.40 EPS for the current year.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of ITT Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of ITT Corp. in a research note on Tuesday, August 23rd. Barclays PLC dropped their price objective on shares of ITT Corp. from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of ITT Corp. in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $41.43.
Several large investors have recently modified their holdings of the company. Capital Research Global Investors raised its stake in shares of ITT Corp. by 4.9% in the second quarter. Capital Research Global Investors now owns 9,710,010 shares of the company’s stock valued at $310,526,000 after buying an additional 453,010 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of ITT Corp. by 6.0% in the second quarter. BlackRock Fund Advisors now owns 3,157,571 shares of the company’s stock valued at $100,979,000 after buying an additional 178,221 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of ITT Corp. by 1.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,616,159 shares of the company’s stock valued at $83,665,000 after buying an additional 44,654 shares during the last quarter. FMR LLC raised its stake in shares of ITT Corp. by 11.5% in the second quarter. FMR LLC now owns 1,727,393 shares of the company’s stock valued at $55,242,000 after buying an additional 178,735 shares during the last quarter. Finally, Janus Capital Management LLC raised its stake in shares of ITT Corp. by 2.6% in the second quarter. Janus Capital Management LLC now owns 1,698,779 shares of the company’s stock valued at $54,327,000 after buying an additional 42,245 shares during the last quarter. Institutional investors own 89.33% of the company’s stock.
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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