ITT (ITT) Now Covered by Analysts at Gordon Haskett

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Gordon Haskett began coverage on shares of ITT (NYSE:ITT) in a research report released on Friday morning, MarketBeat reports. The firm issued a buy rating on the conglomerate’s stock.

Several other research analysts also recently issued reports on ITT. Oppenheimer set a $60.00 price objective on ITT and gave the stock a buy rating in a research report on Tuesday, July 10th. Stifel Nicolaus lifted their price objective on ITT from $59.00 to $68.00 and gave the stock a buy rating in a research report on Monday, August 6th. Seaport Global Securities restated a buy rating and set a $69.00 price objective on shares of ITT in a research report on Tuesday, August 7th. ValuEngine downgraded ITT from a buy rating to a hold rating in a research report on Wednesday, June 20th. Finally, Zacks Investment Research downgraded ITT from a buy rating to a hold rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $66.13.

Shares of ITT stock traded up $0.12 during trading on Friday, hitting $52.84. 751,155 shares of the company were exchanged, compared to its average volume of 610,061. ITT has a fifty-two week low of $45.96 and a fifty-two week high of $63.04. The company has a market capitalization of $5.36 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.58 and a beta of 1.64.

ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, August 3rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. ITT had a return on equity of 15.40% and a net margin of 7.02%. The firm had revenue of $696.80 million during the quarter, compared to the consensus estimate of $685.80 million. During the same period in the previous year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts expect that ITT will post 3.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were issued a $0.134 dividend. The ex-dividend date was Friday, September 7th. This represents a $0.54 annualized dividend and a yield of 1.01%. ITT’s dividend payout ratio (DPR) is presently 20.85%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of ITT during the 2nd quarter valued at $211,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of ITT during the 2nd quarter valued at $224,000. Gifford Fong Associates purchased a new stake in shares of ITT during the 2nd quarter valued at $261,000. LPL Financial LLC purchased a new stake in shares of ITT during the 1st quarter valued at $262,000. Finally, Global X Management Co LLC purchased a new stake in shares of ITT during the 2nd quarter valued at $293,000. Institutional investors own 90.67% of the company’s stock.

ITT Company Profile

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.

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Analyst Recommendations for ITT (NYSE:ITT)

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