ITT Inc (NYSE:ITT) Short Interest Update

ITT Inc (NYSE:ITT) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 1,133,100 shares, an increase of 53.0% from the May 30th total of 740,500 shares. Based on an average daily volume of 553,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.3% of the shares of the company are sold short.

A number of equities research analysts have issued reports on the company. Oppenheimer set a $68.00 price target on ITT and gave the company a “buy” rating in a research note on Wednesday, March 27th. ValuEngine upgraded ZIX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Stifel Nicolaus upgraded QUALCOMM from a “hold” rating to a “buy” rating and boosted their price objective for the company from $57.00 to $100.00 in a research note on Tuesday, April 16th. Finally, Zacks Investment Research upgraded Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, June 12th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $66.75.

In other ITT news, insider Farrokh Batliwala sold 8,950 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.38, for a total transaction of $549,351.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas M. Scalera sold 64,135 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.57, for a total value of $3,948,791.95. Following the sale, the chief financial officer now owns 73,701 shares of the company’s stock, valued at $4,537,770.57. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. LPL Financial LLC grew its stake in shares of ITT by 8.4% during the fourth quarter. LPL Financial LLC now owns 5,207 shares of the conglomerate’s stock valued at $251,000 after purchasing an additional 404 shares during the last quarter. Raymond James & Associates grew its stake in shares of ITT by 2.4% during the fourth quarter. Raymond James & Associates now owns 51,782 shares of the conglomerate’s stock valued at $2,500,000 after purchasing an additional 1,234 shares during the last quarter. Advisor Group Inc. grew its stake in shares of ITT by 10.0% during the fourth quarter. Advisor Group Inc. now owns 3,065 shares of the conglomerate’s stock valued at $148,000 after purchasing an additional 278 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of ITT during the fourth quarter valued at approximately $256,000. Finally, Northern Trust Corp grew its stake in shares of ITT by 3.5% during the fourth quarter. Northern Trust Corp now owns 719,108 shares of the conglomerate’s stock valued at $34,711,000 after purchasing an additional 24,161 shares during the last quarter. Institutional investors own 89.74% of the company’s stock.

Shares of NYSE:ITT traded up $1.59 during mid-day trading on Friday, reaching $65.01. 315,864 shares of the company traded hands, compared to its average volume of 473,672. The stock’s 50 day simple moving average is $62.22. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 1.95 and a beta of 1.58. ITT has a 52 week low of $44.89 and a 52 week high of $66.88.

ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, May 3rd. The conglomerate reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.07. The company had revenue of $695.50 million during the quarter, compared to the consensus estimate of $682.49 million. ITT had a return on equity of 16.69% and a net margin of 11.04%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. On average, sell-side analysts forecast that ITT will post 3.61 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 10th were paid a dividend of $0.147 per share. The ex-dividend date was Friday, June 7th. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.90%. ITT’s dividend payout ratio (DPR) is presently 18.27%.

About ITT

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: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.

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